Fed Waffling and Trade War Expansion Reject Market from Overbought – Above the 40 (August 1, 2019)

The S&P 500 (SPY) lost 3.1% for the week. Buyers just barely pushed the index off its intraday low to on Friday to close above 50DMA support.

AT40 = 41.5% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 49.8% of stocks are trading above their respective 200DMAs VIX = 17.6 (high of 20.1)Short-term Trading Call: neutral Stock Market Commentary A Pause of Recognition I am writing about financial markets at a time when there is renewed pain … Read more

Above the 40 (December 26, 2018) – Oversold Chronicles: Stock Market Delivers Major Reprieve for the Post-Trump Reversal

AT40 = 6.5% of stocks are trading above their respective 40-day moving averages (DMAs) (oversold day #8)AT200 = 11.0% of stocks are trading above their respective 200DMAsVIX = 30.4 (down 15.7%)Short-term Trading Call: bullish Commentary Pick your favorite catalyst or explanation. I am sure there is good news (or the absence of bad news) out … Read more

Above the 40 (October 25, 2018) – Breadth Responds Poorly to Latest 1-Day Oversold Rally

{editing note 10/28/18 – this is a restored version of this post after I accidentally over-wrote it in preparing for the next edition of Above the 40} AT40 = 12.3% of stocks are trading above their respective 40-day moving averages (DMAs) – 7th day of oversold period following 4-day oversold period (as low as 10.3%) … Read more

Above the 40 (February 15, 2016) – S&P 500 Passes A Key Post Oversold Test

AT40 = 31.6% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 49.5% of stocks are trading above their respective 200DMAs VIX = 19.1 Short-term Trading Call: bullish Commentary The S&P 500 (SPY) joined the NASDAQ and PowerShares QQQ ETF (QQQ) by closing above its 50-day moving average (DMA). The move … Read more

Above the 40 (January 5, 2018) – The S&P 500 Rubberband Stretches Further

AT40 = 67.5% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 63.2% of stocks are trading above their respective 200DMAs VIX = 9.2 Short-term Trading Call: cautiously bullish Commentary In my last Above the 40 I complained that market breadth was once again suffering thanks to an S&P 500 (SPY) … Read more