Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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51.35% (-3.20% 1wk)
Status: Tentative Positive Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -3.20% this week.
Therefore, the overall combined average is at 51.35% 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 towards the moving averages, which crossed to the upside. So at the end of the week it is just +0.42% above its short-term 20 day MA, and +1.02% above its 50 day MA (signal line). Hence a very neutral position, but the status remains on a Tentative Positive Environment to start the shortened holiday week.
The Point and Figure (P&F) chart (shown above) was unchanged in 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 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.