{"id":32395,"date":"2016-01-05T23:30:52","date_gmt":"2016-01-06T07:30:52","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=32395"},"modified":"2016-01-05T23:30:52","modified_gmt":"2016-01-06T07:30:52","slug":"t2108-update-160105","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2016\/01\/05\/t2108-update-160105\/","title":{"rendered":"T2108 Update (January 5, 2016) &#8211; A Calm Bullish Divergence Amid A Raging Storm for the S&#038;P 500"},"content":{"rendered":"<p>(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 <a href=\"http:\/\/www.drduru.com\/money\/T2108.htm\">T2108 Resource Page<\/a>. You can <a href=\"http:\/\/twitter.com\/#!\/search\/%23T2108\">follow real-time T2108 commentary<\/a> on twitter using the #T2108 hashtag. T2108-related trades and other trades are occasionally posted on twitter using <a href=\"http:\/\/twitter.com\/#!\/search\/%23120trade\" target=\"_blank\">the #120trade hashtag<\/a>. T2107 measures the percentage of stocks trading above their respective 200DMAs)<\/p>\n<p><strong>T2108 Status<\/strong>: 27.3%<br \/>\n<strong>T2107 Status<\/strong>: 25.4%<br \/>\n<strong>VIX Status<\/strong>: 19.3 (dropped from elevated conditions)<br \/>\n<strong>General (Short-term) Trading Call<\/strong>: bullish with a &#8220;very short leash&#8221;<br \/>\n<strong>Active T2108 periods<\/strong>: Day #14 over 20%, Day #2 under 30% (underperiod), Day #18 under 40%, Day #22 below 50%, Day #37 under 60%, Day #378 under 70%<\/p>\n<p><strong>Reference Charts<\/strong> (click for view of last 6 months from Stockcharts.com):<br \/>\n<a title=\"6-month chart of the S&amp;P 500\" href=\"http:\/\/stockcharts.com\/h-sc\/ui?s=$SPX&amp;p=D&amp;st=2015-07-05&amp;en=2016-01-05&amp;id=p14085208538\" target=\"_blank\">S&amp;P 500<\/a> or <a title=\"6-month chart of SPY\" href=\"http:\/\/stockcharts.com\/h-sc\/ui?s=SPY&amp;p=D&amp;st=2015-07-05&amp;en=2016-01-05&amp;id=p14085208538\" target=\"_blank\">SPY<\/a><br \/>\n<a title=\"6-month chart of SDS\" href=\"http:\/\/stockcharts.com\/h-sc\/ui?s=SDS&amp;p=D&amp;st=2015-07-05&amp;en=2016-01-05&amp;id=p15880085697\" target=\"_blank\">SDS<\/a> (ProShares UltraShort S&amp;P500)<br \/>\n<a title=\"6-month chart of the U.S. dollar\" href=\"http:\/\/stockcharts.com\/h-sc\/ui?s=$USD&amp;p=D&amp;st=2015-07-05&amp;en=2016-01-05&amp;id=p25615696567\" target=\"_blank\">U.S. Dollar Index<\/a> (volatility index)<br \/>\n<a title=\"6-month chart of EEM\" href=\"http:\/\/stockcharts.com\/h-sc\/ui?s=EEM&amp;p=D&amp;st=2015-07-05&amp;en=2016-01-05&amp;id=p15880085697\" target=\"_blank\">EEM<\/a> (iShares MSCI Emerging Markets)<br \/>\n<a title=\"6-month chart of the VIX\" href=\"http:\/\/stockcharts.com\/h-sc\/ui?s=$VIX&amp;p=D&amp;st=2015-07-05&amp;en=2016-01-05&amp;id=p25615696567\" target=\"_blank\">VIX<\/a> (volatility index)<br \/>\n<a title=\"6-month chart of VXX\" href=\"http:\/\/stockcharts.com\/h-sc\/ui?s=VXX&amp;p=D&amp;st=2015-07-05&amp;en=2016-01-05&amp;id=p15880085697\" target=\"_blank\">VXX<\/a> (iPath S&amp;P 500 VIX Short-Term Futures ETN)<br \/>\n<a title=\"6-month chart of EWG\" href=\"http:\/\/stockcharts.com\/h-sc\/ui?s=EWG&amp;p=D&amp;st=2015-07-05&amp;en=2016-01-05&amp;id=p15880085697\" target=\"_blank\">EWG<\/a> (iShares MSCI Germany Index Fund)<br \/>\n<a title=\"6-month chart of CAT\" href=\"http:\/\/stockcharts.com\/h-sc\/ui?s=CAT&amp;p=D&amp;st=2015-07-05&amp;en=2016-01-05&amp;id=p15880085697\" target=\"_blank\">CAT<\/a> (Caterpillar).<br \/>\n<a title=\"6-month chart of IBB\" href=\"http:\/\/stockcharts.com\/h-sc\/ui?s=IBB&amp;p=D&amp;st=2015-07-05&amp;en=2016-01-05&amp;id=p15880085697\" target=\"_blank\">IBB<\/a> (iShares Nasdaq Biotechnology).<\/p>\n<p><strong>Commentary<\/strong><br \/>\n<center><\/p>\n<blockquote class=\"twitter-tweet\" lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Not liking what I see with big fades on stocks, surging Japanese yen. Despite near oversold conditions, moving on <a href=\"https:\/\/twitter.com\/search?q=%24UVXY&amp;src=ctag\">$UVXY<\/a> for spec <a href=\"https:\/\/twitter.com\/search?q=%24AUDJPY&amp;src=ctag\">$AUDJPY<\/a><\/p>\n<p>&mdash; Dr. Duru (@DrDuru) <a href=\"https:\/\/twitter.com\/DrDuru\/status\/684396136505802753\">January 5, 2016<\/a><\/p><\/blockquote>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<\/p>\n<blockquote class=\"twitter-tweet\" lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Bullish divergence: %stocks&gt;40DMA is now above yesterday&#39;s high. Could drag <a href=\"https:\/\/twitter.com\/search?q=%24SPY&amp;src=ctag\">$SPY<\/a> upward kicking and screaming to extend relief rally.<\/p>\n<p>&mdash; Dr. Duru (@DrDuru) <a href=\"https:\/\/twitter.com\/DrDuru\/status\/684457510162464768\">January 5, 2016<\/a><\/p><\/blockquote>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<\/center><\/p>\n<p>It was a choppy kind of day with a very mixed message. After an encouraging open, sellers quickly descended upon the market and generated alarming fades in some of the key stocks that I watch. The fade on Apple (AAPL) was a key tell for me at the time. It ended the day down 2.5% and almost completely wiped out <a href=\"http:\/\/drduru.com\/onetwentytwo\/2016\/01\/05\/t2108-update-160104\/\" target=\"_blank\">the previous day&#8217;s nice bounce of oversold lows<\/a>.<\/p>\n<p><center><br \/>\n<figure id=\"attachment_32398\" aria-describedby=\"caption-attachment-32398\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_AAPL-5min.png\" rel=\"attachment wp-att-32398\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_AAPL-5min.png\" alt=\"This 5-minute chart spans two days to show the fade in the middle that sparked the major reversal.\" width=\"550\" height=\"375\" class=\"size-full wp-image-32398\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_AAPL-5min.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_AAPL-5min-300x205.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-32398\" class=\"wp-caption-text\">This 5-minute chart spans two days to show the fade in the middle that sparked the major reversal.<\/figcaption><\/figure><br \/>\n<\/center><\/p>\n<p>Given my wariness, I gave into the danger signs and actually purchased call options on ProShares Ultra VIX Short-Term Futures (UVXY). I also sold my shares in SVXY from the previous day&#8217;s trade on oversold conditions. As it turned out, my purchase of UVXY was close to the intraday high which poked into positive territory ever so briefly on the day.<\/p>\n<p><center><br \/>\n<figure id=\"attachment_32399\" aria-describedby=\"caption-attachment-32399\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_UVXY.png\" rel=\"attachment wp-att-32399\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_UVXY.png\" alt=\"ProShares Ultra VIX Short-Term Futures (UVXY) is pivoting around its 50DMA in what now looks like a coalescing base.\" width=\"550\" height=\"375\" class=\"size-full wp-image-32399\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_UVXY.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_UVXY-300x205.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-32399\" class=\"wp-caption-text\">ProShares Ultra VIX Short-Term Futures (UVXY) is pivoting around its 50DMA in what now looks like a coalescing base.<\/figcaption><\/figure><br \/>\n<\/center><\/p>\n<p>The end result of the day was a bullish divergence: T2108, the percentage of stocks trading above their respective 40-day moving averages (DMAs), closed with a solid 13% gain for the day while the S&#038;P 500 (SPY) gained a VERY marginal 0.2%. It was one of those rare days in this market of deteriorating technicals where the typical leaders fared relatively poorly. Stocks like AAPL were a large drag on the indices. The NASDAQ fell 0.3%. <\/p>\n<p><center><br \/>\n<figure id=\"attachment_32400\" aria-describedby=\"caption-attachment-32400\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_SP500.png\" rel=\"attachment wp-att-32400\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_SP500.png\" alt=\"Buyers and sellers battle to a stalemate on the S&amp;P 500.\" width=\"550\" height=\"375\" class=\"size-full wp-image-32400\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_SP500.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_SP500-300x205.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-32400\" class=\"wp-caption-text\">Buyers and sellers battle to a stalemate on the S&#038;P 500.<\/figcaption><\/figure><br \/>\n<\/center><\/p>\n<p>After seeing UVXY top out, I became emboldened once again to follow the T2108 oversold trading script. I got back into call options on AAPL and added to Netflix (NFLX) &#8211; which like AAPL faded hard from the open. I was of course surprised to see these titans close so poorly given the strength in T2108.<\/p>\n<p>The Japanese yen (FXY) remains the big tell for me even as the U.S. dollar index is also regaining post-Fed momentum (<a href=\"http:\/\/seekingalpha.com\/article\/3762076-rate-hike-relief-paves-the-way-for-a-stronger-dollar-and-a-december-bottom-for-stocks\" target=\"_blank\">as expected<\/a>). The Australian dollar (FXA) versus the yen, AUD\/JPY, is selling off anew at the time of writing. Just compare the current episode to the sell-off going into the August Angst to understand why I remain so wary even at these near-oversold conditions for T2108. AUD\/JPY is a big reason for the very short leash I am maintaining on my T2108-related bullishness. I still like the pair as a key indicator of market sentiment (up is bullish, down is bearaish). This overnight breakdown could lead the way to a fresh dip into official oversold territory for T2108.<\/p>\n<p><center><br \/>\n<figure id=\"attachment_32401\" aria-describedby=\"caption-attachment-32401\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_AUDJPY.png\" rel=\"attachment wp-att-32401\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_AUDJPY.png\" alt=\"The Australian dollar versus the Japanese yen, AUD\/JPY, continues to plunge sharply as underlying market sentiment worsens to (short-term) extreme levels.\" width=\"550\" height=\"375\" class=\"size-full wp-image-32401\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_AUDJPY.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_AUDJPY-300x205.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-32401\" class=\"wp-caption-text\">The Australian dollar versus the Japanese yen, AUD\/JPY, continues to plunge sharply as underlying market sentiment worsens to (short-term) extreme levels.<\/figcaption><\/figure><\/p>\n<p><figure id=\"attachment_32402\" aria-describedby=\"caption-attachment-32402\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_DXY0.png\" rel=\"attachment wp-att-32402\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_DXY0.png\" alt=\"The U.S. dollar index has regained post-Fed momentum. The index now looks ready to make another run at multi-year highs.\" width=\"550\" height=\"375\" class=\"size-full wp-image-32402\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_DXY0.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_DXY0-300x205.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-32402\" class=\"wp-caption-text\">The U.S. dollar index has regained post-Fed momentum. The index now looks ready to make another run at multi-year highs.<\/figcaption><\/figure><br \/>\n<\/center><\/p>\n<p>The strength of the yen is now looking over-stretched with yen currency pairs like AUD\/JPY trading well below the lower-Bollinger Band. A sharp relief rally could occur at any moment. Such a move should drag stock indices upward as well. I stand ready on such a move to sell more bullish positions and then to fade the weakness of the yen by selling short GBP\/JPY (Brtish pound versus the yen) all over again. With earnings season about to start, I am also favoring sticking with call options on UVXY until\/unless the volatility index closes convincingly below the 15.35 pivot.<\/p>\n<p><center><br \/>\n<figure id=\"attachment_32404\" aria-describedby=\"caption-attachment-32404\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_VIX.png\" rel=\"attachment wp-att-32404\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_VIX.png\" alt=\"The volatility index is chopping wildly above the 15.35 pivot. Despite today&#039;s close at the low, I think the volatility index is prepping for at least one more run-up.\" width=\"550\" height=\"375\" class=\"size-full wp-image-32404\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_VIX.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_VIX-300x205.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-32404\" class=\"wp-caption-text\">The volatility index is chopping wildly above the 15.35 pivot. Despite today&#8217;s close at the low, I think the volatility index is prepping for at least one more run-up.<\/figcaption><\/figure><br \/>\n<\/center><\/p>\n<p>Priceline Group (PCLN) is a stock that I have not monitored in a very long time. Today, it made a potentially important breakdown below its 200DMA. This breakdown looks more ominous than the brief encounters through much of 2015 because it started with a large post-earnings gap down, a successful retest of 200DMA support, and a failed attempt to break 50DMA resistance. This has all the looks of failing momentum. <\/p>\n<p><center><br \/>\n<figure id=\"attachment_32405\" aria-describedby=\"caption-attachment-32405\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_PCLN.png\" rel=\"attachment wp-att-32405\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_PCLN.png\" alt=\"Priceline Group (PCLN) stumbles again with a 200DMA breakdown that looks like it will last  lot longer than previous trips to the 200DMA in 2015.\" width=\"550\" height=\"375\" class=\"size-full wp-image-32405\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_PCLN.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_PCLN-300x205.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-32405\" class=\"wp-caption-text\">Priceline Group (PCLN) stumbles again with a 200DMA breakdown that looks like it will last  lot longer than previous trips to the 200DMA in 2015.<\/figcaption><\/figure><br \/>\n<\/center><\/p>\n<p>I will try to end on some kind of positive note with Wal-Mart Stores (WMT). At the end of December, <a href=\"http:\/\/drduru.com\/onetwentytwo\/2015\/12\/30\/t2108-update-151229\/\" target=\"_blank\">I pointed to WMT as a potential bottom-fishing play<\/a>. My limit order for long-term call options triggered on the previous day&#8217;s dip. Not only did WMT fully recover after that, the stock gained 2.4% today on its way to a fresh 2-month high. Buyers are definitely warming up on aisle WMT with that juicy 3.2% dividend yield.<\/p>\n<p><center><br \/>\n<figure id=\"attachment_32406\" aria-describedby=\"caption-attachment-32406\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_WMT.png\" rel=\"attachment wp-att-32406\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_WMT.png\" alt=\"Wal-Mart Stores (WMT) is slowly but surely beginning a recovery march.\" width=\"550\" height=\"375\" class=\"size-full wp-image-32406\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_WMT.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_WMT-300x205.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-32406\" class=\"wp-caption-text\">Wal-Mart Stores (WMT) is slowly but surely beginning a recovery march.<\/figcaption><\/figure><br \/>\n<\/center><\/p>\n<p>Finally, First Solar (FSLR) continues to prove out <a href=\"http:\/\/drduru.com\/onetwentytwo\/2015\/11\/16\/solar-stock-setups\/\" target=\"_blank\">my bullish thesis on solar stocks<\/a>. Goldman Sachs (GS) now agrees with me. GS&#8217;s upgrade sent FSLR hurtling upward to a whopping 8.0% close on the day and a near 16-month high. Unfortunately, the recent churn in the stock lulled me to sleep &#8211; I did not happen to have a position in play to catch this nice pop. I am definitely back on alert for the next entry point! (I am currently evaluating my select pick of solar stocks separate from whatever else is going on in the general market).<\/p>\n<p><center><br \/>\n<figure id=\"attachment_32407\" aria-describedby=\"caption-attachment-32407\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_FSLR.png\" rel=\"attachment wp-att-32407\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_FSLR.png\" alt=\"First Solar (FSLR) breaks out again.\" width=\"550\" height=\"375\" class=\"size-full wp-image-32407\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_FSLR.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_FSLR-300x205.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-32407\" class=\"wp-caption-text\">First Solar (FSLR) breaks out again.<\/figcaption><\/figure><br \/>\n<\/center><\/p>\n<p><center><br \/>\n<strong>Daily T2108 vs the S&amp;P 500<\/strong><br \/>\n<img loading=\"lazy\" decoding=\"async\" title=\"T2108 vs. the S&amp;P 500 (DAILY)\" src=\"http:\/\/www.drduru.com\/money\/charts\/T2108-daily_s.png\" alt=\"\" width=\"500\" height=\"350\" \/><\/p>\n<p>Black line: T2108 (measured on the right); Green line: S&amp;P 500 (for comparative purposes)<br \/>\nRed line: T2108 Overbought (70%); Blue line: T2108 Oversold (20%)<br \/>\n<\/center><\/p>\n<p><center><br \/>\n<strong>Weekly T2108<\/strong><br \/>\n<a href=\"http:\/\/www.drduru.com\/money\/charts\/T2108-weekly_s.png\"><img loading=\"lazy\" decoding=\"async\" title=\"Weekly T2108\" src=\"http:\/\/www.drduru.com\/money\/charts\/T2108-weekly_s.png\" alt=\"Weekly T2108\" width=\"500\" height=\"350\" \/><br \/>\n*<strong>All charts created using <\/strong><\/a><strong><a title=\"Freestockcharts.com\" href=\"http:\/\/www.freestockcharts.com\/\" target=\"_blank\">freestockcharts.com<\/a><\/strong> unless otherwise stated<\/center><\/p>\n<p>The charts above are the my LATEST updates independent of the date of this given T2108 post. For my latest T2108 post <a href=\"http:\/\/drduru.com\/onetwentytwo\/tag\/t2108\/\" target=\"_blank\">click here<\/a>.<\/p>\n<p>\n<strong>Related links:<\/strong><br \/>\n<a href=\"http:\/\/www.drduru.com\/money\/T2108.htm\">The T2108 Resource Page<\/a><br \/>\n<a href=\"http:\/\/www.drduru.com\/money\/charts\/T2108-daily.jpg\">Expanded daily chart of T2108 versus the S&amp;P 500<\/a><br \/>\n<a href=\"http:\/\/www.drduru.com\/money\/charts\/T2108-weekly.jpg\">Expanded weekly chart of T2108 <\/a><\/p>\n<p>Be careful out there!<\/p>\n<p>Full disclosure: long UVXY call options, long AAPL call options, short AUD\/JPY, net long the U.S. dollar index<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(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 &#8230; <a title=\"T2108 Update (January 5, 2016) &#8211; A Calm Bullish Divergence Amid A Raging Storm for the S&#038;P 500\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2016\/01\/05\/t2108-update-160105\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[584,483,20,219,599,512,338,3,62,1633],"tags":[250,772,310,7,309,513,138,956,65,16,226,1597,1092,303,931,1177],"class_list":["post-32395","post","type-post","status-publish","format-standard","hentry","category-bollinger-band","category-breakdown","category-forex","category-high-tech","category-internet","category-resistance","category-retail","category-solar-energy","category-technical-analysis","category-travel","tag-aapl","tag-audjpy","tag-australian-dollar","tag-fslr","tag-fxa","tag-fxy","tag-japanese-yen","tag-pcln","tag-sp-500","tag-solar-stocks","tag-t2108","tag-technical-analysis","tag-uvxy","tag-vix","tag-volatility-index","tag-wmt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>T2108 Update (January 5, 2016) - A Calm Bullish Divergence Amid A Raging Storm for the S&amp;P 500 - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2016\/01\/05\/t2108-update-160105\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"T2108 Update (January 5, 2016) - A Calm Bullish Divergence Amid A Raging Storm for the S&amp;P 500 - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. 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Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/drduru.com\/onetwentytwo\/2016\/01\/05\/t2108-update-160105\/\" \/>\n<meta property=\"og:site_name\" content=\"ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"article:published_time\" content=\"2016-01-06T07:30:52+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/01\/160105_AAPL-5min.png\" \/>\n<meta name=\"author\" content=\"Dr. Duru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@drduru\" \/>\n<meta name=\"twitter:site\" content=\"@drduru\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dr. Duru\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2016\\\/01\\\/05\\\/t2108-update-160105\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2016\\\/01\\\/05\\\/t2108-update-160105\\\/\"},\"author\":{\"name\":\"Dr. Duru\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"headline\":\"T2108 Update (January 5, 2016) &#8211; 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