Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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44.90% (+3.48% 1wk)
Status: Positive Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +3.48% this week.
Therefore, the overall combined average is at 44.90% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average ended the week higher, but spent most the week consolidating after a strong first day and closed +1.74% above its short-term 20 day MA, and +12.24% above its 50 day MA (signal line). And so it remains on Positive Environment status to start the new week.
The Point and Figure (P&F) chart (shown above) was unchanged this week in a column of Os. So the P&F strategy remains on Defense (as it is in a column of Os), and to P&F Bull Correction status in the lower-middle of the field. Which is a neutral overall field position.
To reverse to a column of Xs and change back to Bull Confirmed status, it needs to close above the 48% level.
See the Bullish Percent article for more information on the P&F statuses.
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Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.