Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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53.85% (-1.64% 1wk)
Status: Tentative Difficult Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -1.64% this week.
Therefore, the overall combined average is at 53.85% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average declined again this week, dropping back below its 50 day MA for the second time in two weeks, but the rebound on Friday wasn't enough to get it back above it again.
So it ended the week at -2.90% below its short-term 20 day MA, and -1.03% below its 50 day MA (signal line). Hence the status changed to a Tentative Difficult Environment status in a relatively neutral field position. Caution.
The Point and Figure (P&F) chart (shown above) was unchanged in a column of Os. So the P&F strategy remains on Defense (as it is in a column of Os), and the P&F status remains on Bull Correction 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.