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
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
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
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.