{"id":29216,"date":"2015-07-06T23:29:10","date_gmt":"2015-07-07T06:29:10","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=29216"},"modified":"2015-07-06T23:29:10","modified_gmt":"2015-07-07T06:29:10","slug":"t2108-update-150706","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2015\/07\/06\/t2108-update-150706\/","title":{"rendered":"T2108 Update (July 6, 2015) – A Rattling Lid Remains On the Pressure Cooker"},"content":{"rendered":"

<\/code>(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<\/a>. You can follow real-time T2108 commentary<\/a> on twitter using the #T2108 hashtag. T2108-related trades and other trades are occasionally posted on twitter using the #120trade hashtag<\/a>. T2107 measures the percentage of stocks trading above their respective 200DMAs)<\/p>\n

T2108 Status<\/strong>: 27.3% (low of 23.8% which broke last week’s close and levels last seen in October, 2014)
\nT2107 Status<\/strong>: 39.8% (new 6+ month low)
\nVIX Status<\/strong>: 17.0 (faded from an open of 18.6)
\nGeneral (Short-term) Trading Call<\/strong>: Bullish
\nActive T2108 periods<\/strong>: Day #178 over 20%, Day #2 under 30% (underperiod), Day #5 under 40%, Day #31 under 50%, Day #48 under 60%, Day #247 under 70%<\/p>\n

Reference Charts<\/strong> (click for view of last 6 months from Stockcharts.com):
\nS&P 500<\/a> or SPY<\/a>
\nSDS<\/a> (ProShares UltraShort S&P500)
\nU.S. Dollar Index<\/a> (volatility index)
\nEEM<\/a> (iShares MSCI Emerging Markets)
\nVIX<\/a> (volatility index)
\nVXX<\/a> (iPath S&P 500 VIX Short-Term Futures ETN)
\nEWG<\/a> (iShares MSCI Germany Index Fund)
\nCAT<\/a> (Caterpillar).<\/p>\n

Commentary<\/strong>
\nIn the immediate wake of the Greek decision to say “no” to the bailout referendum<\/a>, the S&P 500 futures fell 1.5%. I had this reaction…<\/p>\n

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If I traded S&P 500 futures, I would be a buyer here. $SPY<\/a> Hope to get a chance on Monday to double down on fading volatility too.<\/p>\n

— Dr. Duru (@DrDuru) July 5, 2015<\/a><\/p><\/blockquote>\n