An Overbought Stock Market Stretching Past A Hurting Country – Above the 40 (May 29, 2020)

Stock Market Statistics AT40 = 82.9% of stocks are trading above their respective 40-day moving averages (DMAs) (overbought 4 of last 5 trading days)AT200 = 25.4% of stocks are trading above their respective 200DMAsVIX = 27.5Short-term Trading Call: cautiously bullish (changed from neutral) Stock Market Commentary It feels surreal to write about the latest machinations … Read more

Stock Market Buyers Counter Sellers With Their Own Line in the Sand – Above the 40 (May 15, 2020)

Stock Market Statistics AT40 = 56.6% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 14.5% of stocks are trading above their respective 200DMAsVIX = 31.9Short-term Trading Call: neutral Stock Market Commentary The week began with sellers finally drawing a line in the sand. The week ended with a counter from … Read more

Overbought Trading Conditions Come to A Swift and Ominous End – Above the 40 (May 1, 2020)

Stock Market Statistics AT40 = 68.6% of stocks are trading above their respective 40-day moving averages (DMAs) (ending 2 days overbought)AT200 = 12.2% of stocks are trading above their respective 200DMAsVIX = 37.2Short-term Trading Call: neutral Stock Market Commentary The Federal Reserve’s last statement on monetary policy may go down as the short-term peak in … Read more

Stock Market Strengthens Breakaway from Oversold Periods – Above the 40 (April 17, 2020)

AT40 = 34.3% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 12.7% of stocks are trading above their respective 200DMAsVIX = 38.2Short-term Trading Call: cautiously bullish Stock Market Commentary Ever since the S&P 500 (SPY) bearishly broke down below its 50-day moving average (DMA) on February 24th, AT40 (T2108), the … Read more

A $2.3 Trillion End to An Extreme Oversold Period in the Stock Market – Above the 40 (April 10, 2020)

AT40 = 24.4% of stocks are trading above their respective 40-day moving averages (DMAs) (ended 31-day oversold period)AT200 = 10.9% of stocks are trading above their respective 200DMAsVIX = 41.7Short-term Trading Call: cautiously bullish Stock Market Commentary “The Federal Reserve on Thursday took additional actions to provide up to $2.3 trillion in loans to support … Read more

Green Shoots Push Into the Next Downtrend Threatening to Trample Stocks – Above the 40 (March 27, 2020)

AT40 = 3.8% of stocks are trading above their respective 40-day moving averages (DMAs) (23rd oversold day)AT200 = 5.0% of stocks are trading above their respective 200DMAs (new low for the oversold period)VIX = 65.5Short-term Trading Call: bullish Stock Market Commentary First a dose of hope: “Coronavirus treatment: Palo Alto woman recovers from coronavirus after … Read more

Green Shoots Begin Breaking Through Key Stock Downtrends – Above the 40 (March 24, 2020)

AT40 = 2.5% of stocks are trading above their respective 40-day moving averages (DMAs) (20th oversold day)AT200 = 3.7% of stocks are trading above their respective 200DMAs (new low for the oversold period)VIX = 61.7Short-term Trading Call: bullish Stock Market Commentary The week did not start as I feared with a 5th circuit breaker shut-down … Read more

An Ugly Weekly Gain for An Extremely Oversold Stock Market – Above the 40 (March 6, 2020)

AT40 = 9.4% of stocks are trading above their respective 40-day moving averages (DMAs) (8th oversold day)AT200 = 23.2% of stocks are trading above their respective 200DMAsVIX = 41.9Short-term Trading Call: bullish Stock Market Commentary The Shake and Bake bottom barely held as support last week. It was a week of dramatic ups and downs … Read more

Shake and Bake Does A Bottom Make – Above the 40 (February 28, 2020)

AT40 = 7.0% of stocks are trading above their respective 40-day moving averages (DMAs) (oversold day #3, dropped as low as 5.1%)AT200 = 21.4% of stocks are trading above their respective 200DMAs (13-month low, dropped as low as 17.8%)VIX = 40.1 (was as high as 49.5%)Short-term Trading Call: bullish Stock Market Commentary Oversold I had … Read more

Buyers Tap the Brakes As Economic Data Stall In the Crosswalk – Above the 40 (February 21, 2020)

The NADSAQ (COMPQX) lost 1.8% for a 2-week low.

AT40 = 48.9% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 56.7% of stocks are trading above their respective 200DMAs VIX = 17.1Short-term Trading Call: bearish Stock Market Commentary Sellers put on a rare performance: the S&P 500 fell for two days in a row. Buyers tapped the brakes on … Read more