Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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59.89% (-1.30% 1wk)
Status: Neutral Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -1.30% this week.
Therefore, the overall combined average is at 59.89% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average pulled back this week, closing below its shorter-term 20 day MA by -0.61%, but it is still above its 50 day MA (signal line) by +2.52%. Therefore, the status has changed to a Neutral Environment status to start the new week.
The Point and Figure (P&F) chart (shown above) was unchanged again 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.