Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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54.56% (+2.70% 1wk)
Status: Tentative Positive Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +2.70% this week.
Therefore, the overall combined average is at 54.56% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average continued to make progress higher, moving back above its 50 day MA on Wednesday, and finished the week at +6.11% above its short-term 20 day MA, and +3.48% above its 50 day MA (signal line). Hence the status has changed to a Tentative Positive Environment to start the new week, but needs to clear the 58% level to remove the Tentative from the status.
The Point and Figure (P&F) chart (shown above) added a further 2 Xs to the current column of Xs. 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.
A close above 58% would be the next double top breakout position, and a close below 48% would be needed for a reversal from the current level.
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.