An Overbought Stock Market Faces Down the Stimulus Stalemate – Above the 40 (August 14, 2020)

Stock Market Statistics AT40 = 76.1% of stocks are trading above their respective 40-day moving averages (DMAs) (6th day overbought)AT200 = 46.3% of stocks are trading above their respective 200DMAs VIX = 22.1Short-term Trading Call: cautiously bullish Stock Market Commentary While the politicians in Washington D.C. play a game of chicken with the economy, the … Read more

T2108 Update (March 4, 2016) – The Underlying Bullishness of the S&P 500’s Melt Up to 1999.99

(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. It helps to identify extremes in market sentiment that are likely to reverse. To learn more about it, see my T2108 Resource Page. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are … Read more

T2108 Update (January 5, 2015) – The Santa Claus Rally Gives Way to New Year Angst

(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. It helps to identify extremes in market sentiment that are likely to reverse. To learn more about it, see my T2108 Resource Page. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are … Read more

Chart Review: A Cautious Eye on Cyclicals – Materials and Industrials

Cyclical stocks continue to worry me even as the S&P 500 treads water. Charts across a wide swath of related stocks show inabilities to break critical resistance and in some cases, are outright breaking down. Here are several representative charts along with brief commentary. The Materials Select Sector SPDR (XLB) and the Industrial Select Sector … Read more