Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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60.87% (+0.98% 1wk)
Status: Neutral Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +0.98% this week.
Therefore, the overall combined average is at 60.87% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average consolidated throughout the week and expanded slightly again on Friday, closing back above its shorter-term 20 day MA by +0.44%, and it is also still above its 50 day MA (signal line) by +3.41%. Therefore, the status remains on a Neutral Environment status with a slight positive leaning to start the new week.
The Point and Figure (P&F) chart (shown above) was again 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.