Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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39.86% (-4.16% 1wk)
Status: Difficult Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -4.16% this week.
Therefore, the overall combined average is at 39.86% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average continued its decline for another week, closing below the 40% level for the first time since early April. It closed the week -7.79% below its short-term 20 day MA, and -10.82% below its 50 day MA (signal line).
Hence the status remains on a Difficult Environment status.
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 P&F Bear Confirmed status in the lower-middle of the field.
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.