Market Breadth Update
Attached is the NYSE Bullish Percent Index and the NYSE long, medium and short term moving average breadth charts.
The market appears to be at a short term crossroads, with the short term moving average breadth charts all turning negative last week, and the medium and longer term charts sitting one box from a Bear Confirmation status also, the weighting is clearly on the negative side currently. But, with a Fed meeting this week that's got a lot of attention in the media, we could see some volatility during the week with the breadth charts being so close to status changes, and so I'm wary of a shakeout and am going to personally reserve judgement on any status changes until after the meeting has been digested by the market. But that's just my opinion, and you should draw your own from the charts below.
The NYSE Bullish Percent Index
NYSE Percentage of Stocks above their 200 Day, 150 Day and 50 Day Moving Averages P&F charts
NYSE Percentage of Stocks above their 200 Day, 150 Day and 50 Day Moving Averages line charts
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