Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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53.45% (-3.27% 1wk)
Status: Positive Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -3.27% this week.
Therefore, the overall combined average is at 53.45% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
While the major indexes continued to climb this week, the combined average actually saw a modest pullback, as some stocks fell below their key moving averages. However, it remains +7.08% above its short-term 20 day MA, and +7.83% above its 50 day MA (signal line) in the upper half of the range, and so is in healthy position above its moving averages.
Hence the status remains on Positive Environment status as Earnings Season moves up a gear this week – with multiple mega cap stocks reporting.
The Point and Figure (P&F) chart (shown above) was unchanged in 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, 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.