MMFI is the TradingView symbol for the percent of all NYSE stocks (NYA) closing above their own, in the case of MMFI, 50 day simple moving average. (TV also offers S5FI, the SPX above 50 SMA and, other length averages). I like the 50 for my purposes which is swing trading.
I analyze the daily value of the Heikan-Ashi MMFI of the TV Community Script "Accurate...
Each time the % of stocks reaches 70% or >, the market pulls back. Vice versa, when the number of stocks reaches 10% above 50 day MA, stocks rebound... Thesis, not exact science. Will test out in weeks to come with SPY calls/puts on 30-90 day expirations
I recently updated my piece defining oversold and overbought conditions using MMFI or the percentage of stocks trading above their 50-day moving averages (DMAs). Here is the key text from that post:
Above the 50, AT50, is overbought above 70%
Above the 50, AT50, is oversold below 20%
The Technicals of Converting from Above the 40 to Above the 50
Converting from...
But who cares it's been there for a while we not for another year or so :-). These divergences tend to last
quiet a while. Some of them is actually not tradable unless you area a multi billion dollar fund !!!
Here is some perspective of how bad things are under the hood... I'm not predicting anything. Just pointing out how weak most issues are right now. Be careful out there.
The pressure on the market is mostly down. The number of stocks above the 50-day Average is moving downwards and that shows weakness. At the same time, it can act as a contrarian indicator.
Do you think the market will go further downwards before it finds a bottom?
I appreciate if you write in the comments all your questions and instruments which you would like...
1/ Each indicator is giving us different date!!!.
2/ Apple Vs. Apple "All else equal"
3/ I would say more than 18 % due to the
percentage if we compare Apple Vs Apple.
I usually use this chart to see the health of the stock market. The INDEX:MMFI is a good indicator to see if an uptrend is backed by the mayority of the stocks that play the market and not only the big caps leaders. This little divergence between the price action and its RSI shows that this indicator may go higher. Although, is a short term time frame so I'm...
Right now 60% of stocks in the market are above their 50 day moving averages. Is it a good time to buy? Take a look back at last year when less than 10% of the market was above the 50 day MA. There's definitely more selling ahead.
I often look at INDEX:MMFI to keep an eye to the momentum of the market in general. For me its like another Advance Decline Line of the TVC:SPX but with a little better information. Now I can see that for the past 6 years, every time that percentage hits more than 84%, the TVC:SPX is in the beginning of really good bull run, but normally is just after a...
The market breadth upswing is just getting started. Expect volatility along the way, but know that you are on the right side of the weekly trend. Long trades will likely play out better than short ones, going forward for the next month or two.
Also have a look at the daily MMFI chart for a closer look at the day-to-day.
God bless you, and may you be richly...
This chart is looking at the % of US Stocks Above their 50-Day Moving Average (ticker = MMFI), which is an excellent way to gauge market breadth and buy/sell entry areas. We have entered the buy zone on the weekly chart and the buy confirmation will be when the line on the price chart moves upward from this buy zone. This is not a good time to be going short, as...
