{"id":34295,"date":"2016-05-03T22:29:10","date_gmt":"2016-05-04T05:29:10","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=34295"},"modified":"2016-05-04T01:16:40","modified_gmt":"2016-05-04T08:16:40","slug":"t2108-update-160503","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2016\/05\/03\/t2108-update-160503\/","title":{"rendered":"T2108 Update (May 3, 2016) – Overbought Status Finally Ends As the NASDAQ Teeters"},"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>: 65.3% (ends an epic 44-day overbought period!)
\nT2107 Status<\/strong>: 57.4%
\nVIX Status<\/strong>: 15.6
\nGeneral (Short-term) Trading Call<\/strong>: cautiously bearish
\nActive T2108 periods<\/strong>: Day #56 over 20%, Day #55 over 30%, Day #52 over 40%, Day #49 over 50%, Day #45 over 60%, Day #1 under 70% (ends 44 days over 70% – overbought period)<\/p>\n

Commentary<\/strong>
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%stocks>40DMA has plunged to 62%. %stocks>200DMA testing uptrend. Bull technicals breaking down. But $SPY<\/a> has 50DMA support #T2108<\/a> #T2107<\/a><\/p>\n

— Dr. Duru (@DrDuru) May 3, 2016<\/a><\/p><\/blockquote>\n