Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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43.49% (-7.71% 1wk)
Status: Difficult Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -7.71% this week.
Therefore, the overall combined average is at 43.49% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average continued lower this week, breaking strongly below its Dec 31st pivot low of 49.16% and moving into the lower half of the range for the first time this year. Closing the week at -9.12% below its short-term 20 day MA, and -11.16% below its 50 day MA (signal line).
Hence the status continues to be on Difficult Environment status, but with the removal of the Tentative flag, and is now at the lower-end of neutral range. So caution continues to remain prudent, especially with it approaching the Weak range (Below 40%), where the chance of moving into a Stage 4 decline increases.
The Point and Figure (P&F) chart (shown above) dropped by a further 4 Os 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 changed to High Pole Warning status in the lower-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.