Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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51.01% (+3.97% 1wk)
Status: Tentative Positive Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +3.97% this week.
Therefore, the overall combined average is at 51.01% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average rebounded through the week and managed to close the week slightly back above the key MAs. So it is +1.53% above its short-term 20 day MA, and +0.77% above its 50 day MA (signal line). Hence the status reversed to a Tentative Positive Environment status. But note the tentative wording, as its only just over the level. So it would need to clear the 54% level for a full status change to positive.
The Point and Figure (P&F) chart (shown above) was unchanged again in a column of Xs this week. So the P&F strategy remains on Offense (as it is in a column of Xs) in the middle of the field.
To reverse to a column of Os (defense), it would currently need to close below the 46% level.
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.