Digital currencies versus stocks: what does the 200-day moving average reveal?
The S&P 500 index is trading near its historical levels, but most of its stocks are below their 200-day moving averages, according to data shared by analyst “Scott Milker.”
By contrast, 88 of the largest 100 digital currencies are trading above the 200-day average, reflecting a clear difference in market breadth between stocks and digital currencies.
Stocks and digital currencies:
“Milker” noted that 257 S&P 500 stocks were below their 200-day average as of Wednesday, meaning that only about 49% of the index’s components were above this level.
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The S&P 500 index is trading near its historical levels, but most of its stocks are below their 200-day moving averages, according to data shared by analyst “Scott Milker.”
By contrast, 88 of the largest 100 digital currencies are trading above the 200-day average, reflecting a clear difference in market breadth between stocks and digital currencies.
Stocks and digital currencies:
“Milker” noted that 257 S&P 500 stocks were below their 200-day average as of Wednesday, meaning that only about 49% of the index’s components were above this level.
#BinanceWillListHyperliquid(HYPE)
#FedOctoberRateHikeOddsRiseTo69.7%
#US30YearYieldHighestSince2004
#USWeighsPromotingDollarStablecoinsAbroad
#US10YTreasuryYieldHits19YearHigh