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 video – which 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.