S&P 500 just 21% of stocks above their 200D MA
S&P 500 vs its stocks above the 200 day MA:
Bottom chart shows the S&P since 2008.
The chart on top, tracks the percentage of stocks above their 200 day Moving average for stocks that make up the S&P 500 .
In April of 2021, 96% of the S&P stocks traded above their 200 day MA. Currently just 21% remain above their 200 day MA.
Below the 30% thresh-hold it would appear that the trend will continue lower.
Between 30% and 50% the S&P could chop around in a sideways pattern for some time looking for more direction.
A move back above the 50% line should see more money re entering. A move above the 70% line should indicate a return to an uptrend.
A drop to 1%-5% should be an automatic buy back in from the Big Money crowd
Bottom chart shows the S&P since 2008.
The chart on top, tracks the percentage of stocks above their 200 day Moving average for stocks that make up the S&P 500 .
In April of 2021, 96% of the S&P stocks traded above their 200 day MA. Currently just 21% remain above their 200 day MA.
Below the 30% thresh-hold it would appear that the trend will continue lower.
Between 30% and 50% the S&P could chop around in a sideways pattern for some time looking for more direction.
A move back above the 50% line should see more money re entering. A move above the 70% line should indicate a return to an uptrend.
A drop to 1%-5% should be an automatic buy back in from the Big Money crowd
Comment:
Reaching the 70% line. Will be interesting to see how this behaves
