Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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58.06% (-0.77% 1wk)
Status: Positive Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -0.77% this week.
Therefore, the overall combined average is at 58.06% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average pulled back slightly early in the week, but recovered to make a new high on Thursday, but once again pulled back on Friday to close slightly lower on the week. So a relatively flat week overall, with the distance above its short-term 20 day MA at +5.32% and +10.57% above its 50 day MA (signal line). So the status remains on a Positive Environment status, but it is approaching the Strong range (60%+).
The Point and Figure (P&F) chart (shown above) continued to improve this week, adding a further X to the current column of Xs. So the P&F strategy remains on Offense (as it is in a column of Xs), and P&F Bull Confirmed status in the upper-middle of the field.
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.