percent of stock above 50 ma most of the stock is oversold and ready for the bounce .
focus on strong stocks
Broad market trends revealed by MMFI 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 Stocks OVER 50 Day MAEach 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
MMFI Is A Key Measure of Stock Market BreadthI 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 Technical
MMFI, awaiting trend changeStock's below 50 day is relatively low. I don't think we could expect an all out sell off right now.
SPX. One ugly looking big divergence, who is @ the WHEELS!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 !!!
UGLY Charts - Percent of Stocks Over 50 DMA and 20 DMAHere 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.
Chart of the Day: Percentage of Stocks Above the 50-Day AverageThe 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 th
SPX could/might get a "Trough" by September 13 "8%-18% from ATH.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.
Just a little bullish sign 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 indica
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Displays a symbol's price movements over previous years to identify recurring trends.