Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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58.12% (+7.39% 1wk)
Status: Positive Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +7.39% this week.
Therefore, the overall combined average is at 58.12% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average expanded during the week, closing above the recent pivot high of 55.97%. It is now +5.16% above its short-term 20 day MA, and +8.12% above its 50 day MA (signal line). Hence the status changed to a Positive Environment going into the new week.
The Point and Figure (P&F) chart (shown above) added a further 2 Xs to its current column of Xs. So the P&F strategy remains on Offense (as it is in a column of Xs) but the P&F status changed to Bull Confirmed status in the upper middle of the field with Fridays P&F double top breakout.
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.