A Two-Speed Stock Market Downshifts Into A Bearish Divergence – Above the 40 (July 10, 2020)

Stock Market Statistics AT40 = 43.8% of stocks are trading above their respective 40-day moving averages (DMAs) (hit a 2 1/2 – month low the previous day at 34.9%)AT200 = 26.0% of stocks are trading above their respective 200DMAs VIX = 27.3Short-term Trading Call: neutral Stock Market Commentary A strange and two-speed market got even … Read more

A Trampling at the Frontlines of the Stock Market – Above the 40 (June 24, 2020)

Stock Market Statistics AT40 = 47.9% of stocks are trading above their respective 40-day moving averages (DMAs) (2-month low)AT200 = 21.5% of stocks are trading above their respective 200DMAs VIX = 33.8Short-term Trading Call: neutral Stock Market Commentary The damage in the stock market is only visible upon close examination. The top technicals for the … 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

A Sharp Market Rebound, Too Many Stocks Left Behind – Above the 40 (February 7, 2020)

AT40 = 47.7% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 54.9% of stocks are trading above their respective 200DMAs VIX = 15.5Short-term Trading Call: bearish (from cautiously bearish) Stock Market Commentary The major indices managed to swing to all-time highs last week, but I still see signs of a … Read more

A More Speculative Turn in the Stock Market – Above the 40 (November 25, 2019)

The Invesco S&P 500 High Beta ETF (SPHB) broke out to a near 14-month high.

AT40 = 58.7% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 55.4% of stocks are trading above their respective 200DMAsVIX = 11.9Short-term Trading Call: neutral Stock Market Commentary If “cautiously neutral” made sense, I would make that description my short-term trading call. Last week’s trading action motivated me to observe that … Read more

Stock Market Slams Into October’s Average Drawdown In Two Days Flat – Above the 40 (October 2, 2019)

The S&P 500 (SPY) confirmed its 50DMA breakdown with a 1.8% loss, but also closed well below its lower Bollinger Band.

AT40 = 39.0% of stocks are trading above their respective 40-day moving averages (DMAs) (intraday low at 34.5%)AT200 = 45.3% of stocks are trading above their respective 200DMAsVIX = 20.6Short-term Trading Call: cautiously bearish (caveats below) Stock Market Commentary A Broad-Based Exit The selling today was so broad that even Invesco S&P 500 Low Volatility … Read more

A Stock Market Stuck In An Obvious Trading Range Still Produces A Rich Set of Expectations – Above the 40 (August 29, 2019)

AT40 = 38.3% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 44.1% of stocks are trading above their respective 200DMAs (2-month low)VIX = 19.0Short-term Trading Call: neutral Stock Market Commentary The Trigger Finger On Tuesday (August 27), I saw enough hints of a flip from a bullish to bearish divergence … Read more

Above the 40 (August 22, 2017) – The Stock Market Gets A Reflex Bounce

AT40 = 35.8% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 46.9% of stocks are trading above their respective 200DMAs VIX = 11.4 (14.0% decrease) Short-term Trading Call: neutral Commentary Since last Thursday when I lasted posted Above the 40, AT40 (T2108), the percentage of stocks trading above their respective … Read more

Above the 40 (June 9, 2017) – A Surprisingly Bullish Rotation Out of Tech Stocks

AT40 = 58.6% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 58.5% of stocks are trading above their respective 200DMAs VIX = 10.7 (volatility index) (intraday high of 12.11) Short-term Trading Call: cautiously bullish Commentary It seemed poetic. The Golden State Warriors, hailing from the tech heavy San Francisco Bay … Read more