RE: Market Breadth Update
Attached is the NYSE long, medium and short term moving average breadth charts and the NYSE Bullish Percent Index.
The short term moving average breadth charts all added to their column of Xs this week, with the Dow Percentage of Stocks above their 50 day moving average chart moving to the extreme 90% level once more, at the end of the week. So 27 of the 30 stocks in the Dow are above their 50 day MA. The S&P 500 Percentage of Stocks above their 50 day moving average chart is also back to it's upper levels with 84% (420) of stocks in the S&P 500 above their 50 day moving averages.
The medium term NYSE Percentage of Stocks above their 150 day moving average remains on Bear Alert status as it failed to reverse from it's column of Os this week. So a cautionary sign still with stocks at such high readings to be aware of.
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