Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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44.02% (-6.95% 1wk)
Status: Difficult Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -6.95% this week.
Therefore, the overall combined average is at 44.02% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average continued to decline throughout the week, breaking through the pivot lows from May, June and July. It closed the week -6.88% below its short-term 20 day MA, and -7.84% below its 50 day MA (signal line).
Hence the status has changed to a Difficult Environment status in the lower-middle of the field.
The Point and Figure (P&F) chart (shown above) added a further 2 Os to its current column of Os this week. So the P&F strategy remains on Defense (as it is in a column of Os) and has changed to P&F Bear Confirmed status in the lower-middle of the field, with the double bottom breakdown on Thursday.
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.