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The ability of a stock to be above its 200-day moving average can be considered a fairly reliable indicator for positive future returns. A breadth indicator that measures the percentage of stocks above a specific moving average. Many indicators have been created on the concept of market breadth. For example, a good market breadth indicator is $SPXA200R which measures: The percentage of S&P 500 stocks above their 200-day moving averages  Figure 1 Interpretation of $SPXA200R $SPXA200R is a medium to long-term indicator.  In general, you can use it to: Buy - when it moves above 30% from below and  Sell - when it moves below 70% from above   Figure 2.  Major corrections have been marked by extended time below the 50% level of $SPXA200R (Source: @DKellerCMT ) More on 200-DMA In addition to look at $SPXA200R, 200-day moving average (DMA) can be also used in different ways.  For example, you can look at: [1] The direction of...

In [1], Mark Arbeter has shown a Put-Call Chart using $CPCE with 5-day Moving Average to smooth out the data: Put/Call Ratio The Put/Call Ratio is an indicator that shows put volume relative to call volume. Put options are used to hedge against market weakness or bet on a decline. Call options are used to hedge against market strength or bet on an advance. The Put/Call Ratio is above 1 when put volume exceeds call volume and below 1 when call volume exceeds put volume. Typically, this indicator is used to gauge market sentiment. Sentiment is deemed excessively bearish when the Put/Call Ratio is trading at relatively high levels, and excessively bullish when at relatively low levels. Chartists can apply moving averages and other indicators to smooth the data and derive signals. You can read StockCharts article for its interpretation. $CPCE Charts 5-Day MA Using similar concept except that we have inverted $CPCE, we have charted $ONE:$CPCE with the data on 10/19/20...