{"id":34207,"date":"2016-04-29T17:37:15","date_gmt":"2016-04-30T00:37:15","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=34207"},"modified":"2016-04-29T17:37:15","modified_gmt":"2016-04-30T00:37:15","slug":"t2108-update-160429","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2016\/04\/29\/t2108-update-160429\/","title":{"rendered":"T2108 Update (April 29, 2016) – An Ominous Close Call for the Extended Overbought Rally"},"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>: 71.1% (66.0% at the intraday low)
\nT2107 Status<\/strong>: 59.9%
\nVIX Status<\/strong>: 15.7 (17.1 at the high)
\nGeneral (Short-term) Trading Call<\/strong>: cautiously bullish
\nActive T2108 periods<\/strong>: Day #55 over 20%, Day #54 over 30%, Day #51 over 40%, Day #48 over 50%, Day #44 over 60%, Day #43 over 70% (Thursday ended 11 days over 80%) (overbought)<\/p>\n

Commentary<\/strong>
\n

<\/p>\n
\n

Uh oh. % of stocks plunging below overbought threshold of 70. Unless $SPY<\/a> rallies hard into close, #T2108<\/a> flashes bear signal.<\/p>\n

— Dr. Duru (@DrDuru) April 29, 2016<\/a><\/p><\/blockquote>\n