Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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46.02% (-7.98% 1wk)
Status: Neutral Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -7.98% this week.
Therefore, the overall combined average is at 46.02% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average saw a heavy decline on Friday, moving into the lower half of the range (below 50%), and is now -6.47% below its short-term 20 day MA, and just +0.58% above its 50 day MA (signal line). Hence the status has changed to a Neutral Environment status currently.
The Point and Figure (P&F) chart (shown above) added a further one O, to it's current column of Os this week. So the P&F strategy remains on Defense (as it is in a column of Os), but has dropped into the lower-middle of the field.
To reverse back to a column of Xs, it would need to close above the 54% level currently.
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.