Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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53.12% (-0.40% 1wk)
Status: Tentative Positive Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -0.40% this week.
Therefore, the overall combined average is at 53.12% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average consolidated this week, moving in a fairly tight range, but holding above the 50% level and moving averages. So it is currently +1.95% above its short-term 20 day MA, and +2.37% above its 50 day MA (signal line). Hence the status remains on a Tentative Positive Environment status in the middle of the field.
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.