Trend: The daily line moved up significantly for the week. The 50-day moving average continues to move above the 200-day moving average. The daily line continues to climb above the previous 52-week high set in early May.
Here's a 12-month chart of the Wilshire 5000* (a proxy for the stock market as a whole), showing the 50 and 200 day moving averages.
*The Wilshire 5000 is sometimes called the "total stock market index" or "total market index" because it includes more than 7,000 of the 10,000-plus securities that are publicly traded in the United States. All publicly-traded companies with headquarters in the U.S. that have readily available price data are included in the Wilshire 5000. Finalized in 1974, this index is extremely diverse, including stocks from every industry. Although it's a near-perfect measure of the entire U.S. market, the Wilshire 5000 is referred to less often than the less comprehensive S&P 500 when people talk about the entire market.
Comments