{"id":34872,"date":"2016-06-17T01:10:24","date_gmt":"2016-06-17T08:10:24","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=34872"},"modified":"2016-06-20T01:13:09","modified_gmt":"2016-06-20T08:13:09","slug":"t2108-update-160616","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2016\/06\/17\/t2108-update-160616\/","title":{"rendered":"T2108 Update (June 16, 2016) – Synchronized Whiplash"},"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>: 49.8% (was as low as 40.7%!)
\nT2107 Status<\/strong>: 61.3%
\nVIX Status<\/strong>: 19.4 (down 3.6%, was as high as 22.9, a 4-month high)
\nGeneral (Short-term) Trading Call<\/strong>: bearish
\nActive T2108 periods<\/strong>: Day #87 over 20%, Day #86 over 30%, Day #83 over 40%, Day #3 under 50%, Day #4 under 60%, Day #5 under 70%<\/p>\n

Commentary<\/strong>
\nIt was the worst of times, it was the best of times.<\/p>\n

Serious whiplash was in effect on the day. T2108 dropped as low as 40.7% before closing the day at 49.8%. While this close essentially matches the closing low of the week, the move demonstrates the challenge sellers still face in trying to break this market. Sellers had control for exactly one hour before the entire nature of trading changed: the seachange at 10:30am Eastern looked like synchronized whiplash.<\/p>\n