Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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37.25% (-0.13% 1wk)
Status: Neutral/Difficult Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -0.13% this week.
Therefore, the overall combined average is at 37.25% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average had a strong move higher through to Wednesday before reversing sharply lower on Thursday, and only a minor bounce to end the week. So another squat candle for the second week in a row, highlighting the inability to maintain any strength.
It closed the week +0.97% above its short-term 20 day MA, and -1.74% below its 50 day MA (signal line). So the status is on the borderline between Neutral and a Difficult Environment status.
The Nasdaq 100 closed the week in Stage 4, and the S&P 500 is approaching its 200 day MA in Stage 3. So extreme caution seems prudent as the majority of individual stocks are currently in Stage 4 declines.
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Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.