Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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61.19% (+0.10% 1wk)
Status: Positive Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +0.10% this week.
Therefore, the overall combined average is at 61.19% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average consolidated further this week, and is now just +0.63% above the short-term 20 day MA and +4.21% above its 50 day MA (signal line). Therefore, the status continues to hold on a Positive Environment status to start the new week, but with the proximity to the short-term MA we need to be on alert.
The Point and Figure (P&F) chart (shown above) was unchanged in a column of Xs this week. 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 upper-middle of the field, continuing to hold in one of the highest field positions year to date.
The next double top breakout level would be a close above 64%, and would reverse to Os with a close below 56%.
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.