[isatrader]

Attached is the NYSE long, medium and short term moving average breadth charts and the NYSE Bullish Percent Index.

The medium and longer term Bear Alerts from my last update two weeks ago have been averted with reversals on the NYSE Percentage of Stocks above their 200 day Moving Averages and the NYSE Percentage of Stocks above their 150 day Moving Averages charts to a column of Xs and hence they regain Bull Confirmed status once more near the upper end of their ranges. Also, you'll note that the time period above the key 70% level has now been over 4 months, which as you can see on the line chart is not out of the ordinary, as the 2010 move above 70% lasted for around 7 months until it broke down in May 2011. And so there's certainly recent precedent for it to continue for longer, but be aware that we are in the upper end of the scale and that we are moving towards right side of the bell curve.

The short term NYSE Percentage of Stocks above their 50 day Moving Averages chart has also regained the 70% level, with a new continuation breakout on Friday and is also now back on Bull Confirmed status with a little bit of potential upside capacity after being refreshed down to the 42% level. So that means that a lot of stocks have had a pullback below their 50 day moving averages and have now recovered back above it.