Groups at the 200-Day Average
Group index within 2% above or 5% below its own 200 DMA.
This applies the 200-day test to a whole group at once, using an index built from the median daily return of its members. When an entire industry pulls back to its long-term trend line, the cause is usually shared, and the trend is harder to break than one stock's.
The index counts every member equally, so it can diverge from how the group's largest companies are doing.