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

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27.21% (-10.88% 1wk)

Status: Difficult Environment in the Stage 4 zone

The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages declined by -10.88% over the last week and moved strongly back below its own 50 day MA – which is used as the signal line for this breadth measure. Closing the week back in the lower zone with just 27.21% of stocks in the NYSE and Nasdaq Combined above their 50 day MA, 150 day and 200 day MA. 

Hence the status has changed from a Neutral Environment last week, back to a Difficult Environment in the Stage 4 zone, and would need to overcome the 38% level convincingly in the near term to potentially change to a postive environment.

The Point & Figure chart (shown below) reversed back to a column of Os once more, and dropped 6 boxes, and so the P&F status moves to Bull Correction status, but a further O would change the status to Bear Confirmed status, and because the chart is in a column of Os, the strategy is Defense.

I will talk more about these charts 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.

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