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

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54.85% (+3.02% 1wk)

Status: Neutral Environment – Stage 1 zone

The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) rebounded on Thursday and Friday to end the week up by +3.02%.

The overall combined average now stands at 54.85% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages, and crossed slightly above its own 50 day MA signal line on Friday by +0.29%, but is still -4.54% below the declining 20 day MA.

So with the cross back above the 50 day MA signal line, the status changes to a Tentative Neutral Environment in the middle range, which is the more neutral Stage 1 zone (40% to 60% range).

The Point and Figure (P&F) chart (shown above), had no change this week, with it still in a column of Os, and so the strategy based on the P&F chart remains on Defense (since the reversal to the column of Os on the 9th February), and the P&F status remains on Bear Alert status

For the P&F chart status to change to Offense and to Bull Confirmed, the overall percentage would need close above the 58% level, which it is currently 3.15% below.

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