Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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31.56% (+0.14% 1wk)
Status: Difficult Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +0.14% this week.
Therefore, the overall combined average is at 31.56% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average rebounded into the middle of the week, but rolled over once more on Thursday, with a further sharp decline into the end the week. Closing only slightly above last weeks recent swing low, as the Stage 4 breakdowns outnumbered the Stage 2 breakouts by more than 3 to 1.
The distance from the combined average is -8.29% below its short-term 20 day MA, and -17.92% below its 50 day MA (signal line). Hence the status continues to be on Difficult Environment status.
So continued extreme caution remains prudent, as the majority of major US indexes are now firmly in early Stage 4 positions.
The Point and Figure (P&F) chart (shown above) was unchanged 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 Bear Confirmed status in the lower third 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.