Don't Ignore This Chart!

Over 60% of Nasdaq Stocks above their 200-day

 | 

The percentage of Nasdaq stocks that are trading above their 200-day moving average reached its highest level since early 2006. As the chart below shows, fewer than 10% of Nasdaq stocks were trading above their 200-day moving average in March. With the March-June rally, 60.46% of Nasdaq stocks are now trading above their 200-day moving average.

090610naa200r

Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus