Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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52.59% (-0.53% 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 -0.53% this week.
Therefore, the overall combined average is at 52.59% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average continued to consolidate for another week, tightening up in the mid range, and continuing to hold above the 50% level and moving averages. So it is currently +0.81% above its short-term 20 day MA, and +1.73% above its 50 day MA (signal line). Hence the status remains on a Tentative Positive Environment status in the middle of the field. Which is a very neutral field position with a slight positive weighting.
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.