{"id":33895,"date":"2016-04-07T19:25:51","date_gmt":"2016-04-08T02:25:51","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=33895"},"modified":"2016-04-07T19:28:32","modified_gmt":"2016-04-08T02:28:32","slug":"t2108-update-160407","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2016\/04\/07\/t2108-update-160407\/","title":{"rendered":"T2108 Update (April 7, 2016) – A Close Call for Overbought Status"},"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>: 71.8% (low of the day was 69.2%)
\nT2107 Status<\/strong>: 42.7%
\nVIX Status<\/strong>: 16.2
\nGeneral (Short-term) Trading Call<\/strong>: neutral
\nActive T2108 periods<\/strong>: Day #39 over 20%, Day #38 over 30%, Day #35 over 40%, Day #32 over 50%, Day #28 over 60%, Day #27 over 70% (overbought)<\/p>\n

Commentary<\/strong>
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In my last #T2108<\/a> Update, I had 2 ST trading scenarios. The unlikely one is happening: %stocks>40DMA dropping from overbought status! $SPY<\/a><\/p>\n

— Dr. Duru (@DrDuru) April 7, 2016<\/a><\/p><\/blockquote>\n