Chart of the Day - Thursday, May 28th, 2020
May 27, 2020
Today’s Chart of the Day was shared by Andrew Adams (@DayTraderGator). The chart shows the spread between the % of NYSE stocks above their 50-day moving average and the % of NYSE stocks above their 200-day moving average ($NYA50R-$NYA200R). 91.57% of NYSE stocks are above their 50-day moving average, while only 27.78% are above their longer-term 200-day moving average. Andrew points out that the spread between these two breadth metrics hasn't been this wide since 2009. The lower pane shows the NYSE over the past two decades with green arrows marking the instances where the spread spiked above 40. As you can see, this wide disparity isn't exactly a bearish characteristic. If anything, it's typically associated with major lows.