Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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47.14% (-2.98% 1wk)
Status: Neutral Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -2.98% this week.
Therefore, the overall combined average is at 47.14% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average held up for most of the week, but Friday saw some volatility return due to global events, causing a pullback to just below the short-term 20 day MA of -0.31%, and +11.31% above its 50 day MA (signal line). Hence, with the close below the short-term MA it changes to a Neutral Environment status.
The Point and Figure (P&F) chart (shown above) was unchanged. So the P&F strategy remains on Offense (as it is in a column of Xs), and P&F Bull Confirmed status in the middle of the field. Which is a very neutral overall field position. But it is close to a potential reversal level. As if the percentage closes below 46%, it would change to Bull Correction status.
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.