RE: Market Breadth Update
Attached is the NYSE long, medium and short term moving average breadth charts and the NYSE Bullish Percent Index.
The medium and longer term charts remain on bull confirmed status currently, but this week saw a number of changes in the short term moving average breadth charts with the NYSE, S&P 500, Nasdaq 100 and Dow 30 Percentage of Stocks above their 50 day Moving Averages charts all reversing to a column of Os, and in three of the above they made high pole warnings, and so have reversed more than 50% of the previous column of Xs. And the major NYSE short term chart status has now moved to Bear Alert, as it closed below the key 70% level.
So overall the short term charts have moved to Bull Correction/Bear Alert, whereas the medium to longer term charts still remain on Bull Confirmed currently in the upper range. Below is the updated table and the major charts.
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