Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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56.71% (+10.34% 1wk)
Status: Positive Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +10.34% this week.
Therefore, the overall combined average is at 56.71% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average saw a continued strong rebound this week, ending the week with a powerful thrust on Friday which has pushed it +15.31% above its short-term 20 day MA, and +11.05% above its 50 day MA (signal line) – it was just above flat last week on the distance from its 50 day MA. Hence the status has moved fully into Positive Environment status just as Earnings Season is about to get into full swing.
The Point and Figure (P&F) chart (shown above) added a further 4 Xs to the column of Xs this week. So the P&F strategy remains on Offense (as it is in a column of Xs), and the P&F status continues to be on Low Pole Reversal status, but now in the upper 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.