Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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49.38% (-3.21% 1wk)
Status: Tentative Difficult Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -3.21% this week.
Therefore, the overall combined average is at 49.38% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average declined for a third week in a row, dropping back below the key MAs. But only still closing close to the 50% level. So it is currently -2.71% below its short-term 20 day MA, and -1.20% below its 50 day MA (signal line). Hence the status changed to a Tentative Difficult Environment status in the middle of the field. Which is a still a very neutral field position, but with a shift in the weighting to slightly negative.
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.