Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
The full post is available to view by members only. For immediate access:
37.38% (+1.19% 1wk)
Status: Neutral Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +1.19% this week.
Therefore, the overall combined average is at 37.38% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average rose through the week towards its 50 day MA until Thursday, but then sold off sharply on Friday to end the week only slightly higher. So if it was a candlestick or bar, then it would resemble a squat (inverted hammer pattern).
It closed the week +2.18% above its short-term 20 day MA, and -3.05% below its 50 day MA (signal line). Hence then status remains on a Neutral Environment status.
Caution seems prudent.
The Point and Figure (P&F) chart (shown above) reversed to a column of Xs this week. So the P&F strategy changed to Offense (as it is in a column of Xs) and P&F Bear Correction status in the lower-middle of the field.
See the Bullish Percent article for more information on the P&F statuses.
Become a Stage Analysis Member:
To see more like this – US Stocks watchlist posts, detailed videos each weekend, use our unique Stage Analysis tools, such as the US Stocks & ETFs Screener, Charts, Market Breadth, Group Relative Strength and more...
Join Today
Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.