{"id":33411,"date":"2016-03-05T14:58:18","date_gmt":"2016-03-05T22:58:18","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=33411"},"modified":"2016-03-05T14:58:18","modified_gmt":"2016-03-05T22:58:18","slug":"t2108-update-160304","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2016\/03\/05\/t2108-update-160304\/","title":{"rendered":"T2108 Update (March 4, 2016) – The Underlying Bullishness of the S&P 500’s Melt Up to 1999.99"},"content":{"rendered":"

(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>: 83.3% (March 3rd marked the first time above 80% since 2013!) – 6th overbought day
\nT2107 Status<\/strong>: 34.0% (matches highs from December, 2015)
\nVIX Status<\/strong>: 16.9
\nGeneral (Short-term) Trading Call<\/strong>: cautiously bullish
\nActive T2108 periods<\/strong>: Day #16 over 20%, Day #15 over 30%, Day #12 over 40%, Day #9 over 50%, Day #5 over 60%, Day #4 over 70%, Day #2 over 80% (overbought)<\/p>\n

Commentary<\/strong>
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$X<\/a> great example of the current melt-up. Up 62% this week alone. $SLX<\/a> up 23%.<\/p>\n

— Dr. Duru (@DrDuru) March 4, 2016<\/a><\/p><\/blockquote>\n