Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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48.75% (-12.12% 1wk)
Status: Difficult Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -12.12% this week.
Therefore, the overall combined average is at 48.75% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average had a heavy decline on Friday closing below its shorter-term 20 day MA by -10.64%, and knifing through its 50 day MA (signal line) by -8.87%. Therefore, the status changed to a Difficult Environment status to start the new week. Hence a defensive posture.
The Point and Figure (P&F) chart (shown above) reversed into a column of Os on Friday, dropping 6 boxes (over -12%). So the P&F strategy changed to Defense (as it is in a column of Os), and P&F Bear Confirmed status in the middle of the field.
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.