Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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59.34% (+3.22% 1wk)
Status: Positive Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +3.22% this week.
Therefore, the overall combined average is at 59.34% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average pushed higher earlier in the week, closing above the 60% level on Wednesday before falling back slightly into the end of the week. It's currently +2.29% above its short-term 20 day MA and +7.88% above its 50 day MA (signal line). So the status remains on a Positive Environment (as it's above both moving averages) to start the new week.
The Point and Figure (P&F) chart (shown above) had a reversal back to a column of Xs. So the P&F strategy changed back to Offense (as it is in a column of Xs), and P&F Bull Confirmed status in the upper-middle of the field.
To reverse to a column of Os from the current position it would need to close below the 56% 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.