Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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21.27% (+0.52% 1wk)
Status: Neutral Environment in Stage 4 zone
The US Total Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages consolidated over the last week gaining slightly with +0.52% to close the week at 21.27%, which puts its marginally above both its 20 day MA and 50 day MA that we use as a signal line for the environment statuses. Hence, as it's only a single day close above both MAs, and not by much; the status has been upgraded to a Neutral Environment status.
But the breadth status could improve further next week if it can continue to close above the 50 day MA and makes further progress above it. However, as it's in a neutral position currently, it could just as easily swing back the other way again to Difficult Environment status once more, like we've seen many times this year. So, Tuesdays price action after the market reopens following the 4th July holiday will be key.
The Point and Figure chart added a further 1 X to its current column and so remains on Bull Alert status in the lower zone. To improve to P&F Bull Confirmed status it would need to add a further 4 Xs to the current column of Xs.
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Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.