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Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined

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41.36% (-7.79% 1wk)

Status: Neutral Environment in the Stage 1 zone

The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages extended last weeks pullback with a further decline of -7.79%, to close the week at 41.36%. So it just holds on to the lower end of the Stage 1 zone (between 40% to 60%) and hence could easily start to fall back into Stage 4 territory (by this breadth measure) if the decline continues for another week.

However, it remains +7.73% above its own rising 50 day MA, but has fallen below its 20 day MA. So the status shifts to a Neutral Environment in the Stage 1 zone with the P&F chart on Defense (see below).

I will talk more about this and all of the other combined moving average breadth charts from the full members post in detail during the Stage Analysis Members weekend videowhich is scheduled for later on Sunday afternoon EST.

The Point & Figure chart reversed to a column of Os this week with the break below 48%, and dropped 6 O's to close the week at 41.36%. So the reversal to the column of O's changes the P&F status to Bull Correction and switches the strategy to Defense.

To learn more about the P&F statutes and how they are triggered, view the Bullish Percent article.

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Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.