Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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60.75% (+5.99% 1wk)
Status: Positive Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +5.99% this week.
Therefore, the overall combined average is at 60.75% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average held in a fairly tight range for the majority of the week, but expanded significantly on Friday following the Fed comments. Continuing the pattern of higher highs and higher lows, since the early August low, and closing above the key 60% level – which puts it slightly into the strong range (60%+).
With Fridays move, its now moving away from the key MAs again, at +7.53% above the short-term 20 day MA and +6.85% above its 50 day MA (signal line).
So the status remains on a Positive Environment status to start the new week.
The Point and Figure (P&F) chart (shown above) added a further X to the current column. So the P&F strategy remains on Offense (as it is in a column of Xs), and P&F Low Pole Reversal status in the middle of the field in one of the highest field positions year to date.
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.