Percent of Stocks Above 20-Day Average
Zaktualizowano

Cleaner 20/50/100 Day Moving Average chart

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You can see the general decline over the year on the 100 Day Averages, despite the bullishness of the market indices.
Uwaga
TW = 20D
FI = 50D
OH = 100D
Uwaga
What this shows is that everyone is piling into fewer and fewer stocks in each index. i.e. FAANGM in NAS. This is pretty common when there's growing fear in the markets, and people chase momentum stocks because growth and value are declining. We can see proof of this with the Russel 2000 going sideways all year and then falling out of range. Plus US500 has a steeper decline than US100. With rate hikes coming, smaller companies will have the most problems servicing their debt and getting new loans.

If you look back there was a similar trend in 2018 that ended in a sell-off with V shape recovery.

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