Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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51.20% (-3.49% 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 -3.49% this week.
Therefore, the overall combined average is at 51.20% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average had a choppy week, but failed to regain its 50 day MA with Thursdays rebound attempt, only to close lower again to end the week at -3.02% below its short-term 20 day MA, and -3.78% below its 50 day MA (signal line). Hence the status remains on Tentative Difficult Environment status, but in a very neutral field position still. Caution remains prudent.
The Point and Figure (P&F) chart (shown above) dropped by a further 1 X in the current 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.