A Resilient Stock Market Barely Blinks At Fresh Bearish Signals – Above the 40 (January 3, 2020)

The S&P 500 (SPY) lost 0.7% and closed right at the lower boundary of its upper Bollinger Band. The pattern left behind an island reversal.

AT40 = 63.5% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 60.3% of stocks are trading above their respective 200DMAsVIX = 14.0Short-term Trading Call: neutral Stock Market Commentary The stock market started the new decade with wild swings. After starting the first trading day of the decade with a 0.8% gain … Read more

Above the 40 (February 22, 2019) – An Extended Overbought Rally Slowly Grinding Resistance Away

AT40 = 85.7% of stocks are trading above their respective 40-day moving averages (DMAs) (20th overbought day)AT200 = 47.3% of stocks are trading above their respective 200DMAs (4-month high which reverses the October, 2018 breakdown)VIX = 13.5Short-term Trading Call: neutral Stock Market Commentary The waiting game continues within a bullish cloak. An extended overbought rally … Read more

Housing Moves: Zillow, KB Home, and LGI Homes Put On A Show

Housing-related stocks continue to show signs of a return of buying interest. I keep tabs on these “housing moves” as checks on the health of the sector. These moves are of particular interest now that investors are actively worrying about a housing slowdown just as the stocks of home builders launch into their seasonally strong … Read more

Above the 40 (November 1, 2018) – An Extended Oversold Period Ends with Important Footnotes

AT40 = 21.4% of stocks are trading above their respective 40-day moving averages (DMAs) – ends an 11-day oversold period that followed a 4-day oversold period AT200 = 32.0% of stocks are trading above their respective 200DMAs VIX = 19.3 Short-term Trading Call: bullish Commentary AT40 (T2108), the percentage of stocks trading above their respective … Read more