Christmas In August Fails to Prevent A Test of the Month’s Extremes – Above the 40 (August 14, 2019)

The S&P 500 (SPY) printed a marginally new low for the month after a 2.9% loss.

AT40 = 26.1% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 40.3% of stocks are trading above their respective 200DMAs (2-month low)VIX = 22.1Short-term Trading Call: neutral (caveats below!) Stock Market Commentary When the S&P 500 (SPY) bounced away from the oversold threshold last week, it left behind an extreme … Read more