{"id":39237,"date":"2017-05-04T05:19:07","date_gmt":"2017-05-04T12:19:07","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=39237"},"modified":"2017-05-04T05:20:48","modified_gmt":"2017-05-04T12:20:48","slug":"t2108-update-170503","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/","title":{"rendered":"Above the 40 (May 3, 2017) &#8211; Technical Setbacks Masked By Gains for Financials and Apple Comeback"},"content":{"rendered":"<p><strong>AT40<\/strong> = 53.0% of stocks are trading above their respective 40-day moving averages (DMAs)<br \/>\n<strong>AT200<\/strong> = 59.0% of stocks are trading above their respective 200DMAs<br \/>\n<strong>VIX<\/strong> = 10.7 (volatility index)<br \/>\n<strong>Short-term Trading Call<\/strong>: bullish<\/p>\n<p><strong>Commentary<\/strong><br \/>\nThe Federal Reserve effectively <a href=\"http:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/fed-clarity-extends-pain-gold-silver\/\" target=\"_blank\">reaffirmed its commitment to two more rate hikes this year<\/a>. The S&#038;P 500 (SPY) yawned, but trouble deepened elsewhere in the market. AT40 (T2108), the percentage of stocks trading above their respective 40-day moving averages (DMAs), dropped from 58.3% to 53.0%. Even worse, AT200 (T2107), the percentage of stocks trading above their respective 200DMAs, retested the April low before rebounding a bit to close at 59.0%.<\/p>\n<p><center><br \/>\n<figure id=\"attachment_39238\" aria-describedby=\"caption-attachment-39238\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_SP500.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_SP500.png\" alt=\"The S&amp;P 500 (SPY) bounced back from the bottom of the current tight trading range to close right in the middle of the range.\" width=\"550\" height=\"412\" class=\"size-full wp-image-39238\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_SP500.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_SP500-300x225.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-39238\" class=\"wp-caption-text\">The S&#038;P 500 (SPY) bounced back from the bottom of the current tight trading range to close right in the middle of the range.<\/figcaption><\/figure><\/p>\n<figure id=\"attachment_39240\" aria-describedby=\"caption-attachment-39240\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_T2108.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_T2108.png\" alt=\"AT40 (T2108) is exposing underlying weakness in the market as the fade from the overbought threshold continues.\" width=\"550\" height=\"399\" class=\"size-full wp-image-39240\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_T2108.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_T2108-300x218.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-39240\" class=\"wp-caption-text\">AT40 (T2108) is exposing underlying weakness in the market as the fade from the overbought threshold continues.<\/figcaption><\/figure>\n<p><figure id=\"attachment_39239\" aria-describedby=\"caption-attachment-39239\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_T2107.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_T2107.png\" alt=\"AT200 (T2107) confirmed some underlying weakness when it challenged the low from April. Note the on-going importance of the previous post-recession downtrend line.\" width=\"550\" height=\"400\" class=\"size-full wp-image-39239\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_T2107.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_T2107-300x218.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-39239\" class=\"wp-caption-text\">AT200 (T2107) confirmed some underlying weakness when it challenged the low from April. Note the on-going importance of the previous post-recession downtrend line.<\/figcaption><\/figure><br \/>\n<\/center><\/p>\n<p>As I indicated in a previous post, typically a fade like AT40&#8217;s away from the overbought threshold would flip me bearish. However, this time I decided to hold onto my bullish trading call because I see no convincing signs that sellers are summoning renewed strength. Only a break of 50DMA support for the S&#038;P 500 will force me to reconsider.<\/p>\n<p>The main source of trouble on Wednesday came again from the mid and small caps. SPDR S&#038;P MidCap 400 ETF (MDY) dropped a fraction of a percent and retested 50DMA support at its low of the day. The iShares Russell 2000 (IWM) lost a fraction more than MDY but its low did not quite qualify for a 50DMA test. The Financial Select Sector SPDR\u00ae ETF (XLF) printed a solid GAIN of 0.8% yet came just short of recapturing the February breakout line.<\/p>\n<p>The volatility index, the VIX, showed little signs of renewed concern. The VIX faded from its highs and gained a little less than 1%. It remains at an extremely low level and just off making a 10-year low.<\/p>\n<p><center><br \/>\n<figure id=\"attachment_39241\" aria-describedby=\"caption-attachment-39241\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_VIX.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_VIX.png\" alt=\"The typical post-Fed fade of volatility occurred intraday for the VIX.\" width=\"550\" height=\"482\" class=\"size-full wp-image-39241\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_VIX.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_VIX-300x263.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-39241\" class=\"wp-caption-text\">The typical post-Fed fade of volatility occurred intraday for the VIX.<\/figcaption><\/figure><br \/>\n<\/center><\/p>\n<p>Again, the conditions seem ripe for the S&#038;P 500 to retest its 50DMA support before it moves higher. Of course, such a pullback would not represent a major bout of selling form current levels.<\/p>\n<p>The star of the day was of course Apple (AAPL). The stock gapped down almost 2% post-earnings and rallied from there. The stock ALMOST closed the entire gap. Note that the remaining pattern is close to an abandoned baby top. If this were any other stock, I would be bold enough to declare &#8220;close enough.&#8221;<\/p>\n<p><center><br \/>\n<figure id=\"attachment_39242\" aria-describedby=\"caption-attachment-39242\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_AAPL.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_AAPL.png\" alt=\"Any dip is a bargain - buyers rushed in to scoop up the Apple (AAPL) post-earnings discount.\" width=\"550\" height=\"425\" class=\"size-full wp-image-39242\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_AAPL.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_AAPL-300x232.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-39242\" class=\"wp-caption-text\">Any dip is a bargain &#8211; buyers rushed in to scoop up the Apple (AAPL) post-earnings discount.<\/figcaption><\/figure><br \/>\n<\/center><\/p>\n<p>AAPL has had a monster move and the persistence of buyers has shown up along the entire up-trend. On May 2, Nightly Business Report shed some light on the power of institutional buying in AAPL. NBR interviewed Nancy Tengler, chief investment officer at Heartland Financial. <a href=\"http:\/\/nbr.com\/2017\/05\/02\/transcript-nightly-business-report-may-2-2017\/\" target=\"_blank\">Here is what she had to say about her company&#8217;s algorithm for investing in AAPL<\/a> (emphasis mine):<\/p>\n<blockquote><p>&#8220;&#8230;as portfolio managers, we have to follow certain guidelines, right? So, the stock had gotten to about 6 percent of our portfolio. And we recently sold it back to 4.5 or 5 percent, depending on the strategy.<\/p>\n<p><strong>If the stock sells off more than 2 percent, which is where it was when I looked last, we`ll be back in picking away at it to round our holdings back up, and then hold on again for the next move<\/strong>. But it`s not going to take off in the next few months. So, I think investors have time to accumulate at lower prices, and then hold on for the next three to five-year period, because this company is doing a lot of things right. And there`s a lot of skeptics.<\/p>\n<p>And so, when the skeptics \u2014 you know, at $89, when I was recommending it, I took a huge beating, and I`m certainly glad. I wished I had bought more.&#8221; <\/p><\/blockquote>\n<p>And THAT is one good explanation for how a stock can drive higher and higher with barely a blip.<\/p>\n<p>Be careful out there!<\/p>\n<p>&#8212; &#8211; &#8212;<br \/>\n<center><br \/>\n<strong>FOLLOW Dr. Duru&#8217;s commentary on financial markets via <a href=\"https:\/\/feedburner.google.com\/fb\/a\/mailverify?uri=onetwentytwo\" target=\"_blank\">email<\/a>, <a href=\"http:\/\/stocktwits.com\/DrDuru\" target=\"_blank\">StockTwits<\/a>, <a href=\"https:\/\/twitter.com\/DrDuru\" target=\"_blank\">Twitter<\/a>, and even <a href=\"https:\/\/www.instagram.com\/drduru_market_breadth\/\" target=\"_blank\">Instagram<\/a>!<\/strong><br \/>\n<\/center><\/p>\n<p>&#8220;Above the 40&#8221; uses the percentage of stocks trading above their respective 40-day moving averages (DMAs) to assess the technical health of the stock market and to identify extremes in market sentiment that are likely to reverse. Abbreviated as AT40, Above the 40 is an alternative label for &#8220;T2108&#8221; which was created by <a href=\"http:\/\/www.worden.com\/CURRENTAFPROMO.aspx?AFCODE=866\" target=\"_blank\">Worden<\/a>. Learn more about T2108 on my <a href=\"http:\/\/drduru.com\/onetwentytwo\/about\/t2108-resource-page\/\">T2108 Resource Page<\/a>. AT200, or T2107, measures the percentage of stocks trading above their respective 200DMAs.<\/p>\n<p><strong>Active AT40 (T2108) periods<\/strong>: Day #302 over 20%, Day #122 over 30%, Day #12 over 40%, Day #9 over 50% (overperiod), Day #4 under 60% (underperiod), Day #74 under 70%<\/p>\n<p><center><br \/>\n<strong>Daily AT40 (T2108)<\/strong><br \/>\n<a href=\"http:\/\/www.drduru.com\/money\/charts\/T2108-daily_s.png\"><img loading=\"lazy\" decoding=\"async\" title=\"T2108 (DAILY)\" src=\"http:\/\/www.drduru.com\/money\/charts\/T2108-daily_s.png\" alt=\"\" width=\"500\" height=\"350\" \/><\/a><\/p>\n<p>Black line: AT40 (T2108) (% measured on the right)<br \/>\nRed line: Overbought threshold (70%); Blue line: Oversold threshold (20%)<br \/>\n<\/center><\/p>\n<p><center><br \/>\n<strong>Weekly AT40 (T2108)<\/strong><br \/>\n<a href=\"http:\/\/www.drduru.com\/money\/charts\/T2108-weekly_s.png\"><img loading=\"lazy\" decoding=\"async\" title=\"Weekly T2108\" src=\"http:\/\/www.drduru.com\/money\/charts\/T2108-weekly_s.png\" alt=\"Weekly T2108\" width=\"500\" height=\"350\" \/><\/a><br \/>\n*<strong>All charts created using <\/strong><strong><a title=\"Freestockcharts.com\" href=\"http:\/\/www.freestockcharts.com\/\" target=\"_blank\">freestockcharts.com<\/a><\/strong> unless otherwise stated<\/center><\/p>\n<p>The charts above are my LATEST updates independent of the date of this given AT40 post. For my latest AT40 post <a href=\"http:\/\/drduru.com\/onetwentytwo\/tag\/t2108\/\" target=\"_blank\">click here<\/a>.<\/p>\n<p>\n<strong>Related links:<\/strong><br \/>\n<a href=\"hhttp:\/\/drduru.com\/onetwentytwo\/about\/t2108-resource-page\/\">The T2108 Resource Page<\/a><br \/>\nYou can <a href=\"http:\/\/twitter.com\/#!\/search\/%23T2108\">follow real-time T2108 commentary<\/a> on twitter using the #T2108 or #AT40 hashtags. T2108-related trades and other trades are occasionally posted on twitter using <a href=\"http:\/\/twitter.com\/#!\/search\/%23120trade\" target=\"_blank\">the #120trade hashtag<\/a>.<\/p>\n<p>Be careful out there!<\/p>\n<p>Full disclosure: long UVXY call options<\/p>\n<p>*Note QQQ is used as a proxy for a NASDAQ-related ETF<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AT40 = 53.0% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 59.0% of stocks are trading above their respective 200DMAs VIX = 10.7 (volatility index) Short-term Trading Call: bullish Commentary The Federal Reserve effectively reaffirmed its commitment to two more rate hikes this year. The S&#038;P 500 (SPY) yawned, but &#8230; <a title=\"Above the 40 (May 3, 2017) &#8211; Technical Setbacks Masked By Gains for Financials and Apple Comeback\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[548,219,512,511,62,1304],"tags":[250,1819,909,1101,65,362,226,303,311],"class_list":["post-39237","post","type-post","status-publish","format-standard","hentry","category-financials","category-high-tech","category-resistance","category-support","category-technical-analysis","category-top","tag-aapl","tag-at40","tag-iwm","tag-mdy","tag-sp-500","tag-spy","tag-t2108","tag-vix","tag-xlf"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Above the 40 (May 3, 2017) - Technical Setbacks Masked By Gains for Financials and Apple Comeback - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Above the 40 (May 3, 2017) - Technical Setbacks Masked By Gains for Financials and Apple Comeback - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"AT40 = 53.0% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 59.0% of stocks are trading above their respective 200DMAs VIX = 10.7 (volatility index) Short-term Trading Call: bullish Commentary The Federal Reserve effectively reaffirmed its commitment to two more rate hikes this year. The S&#038;P 500 (SPY) yawned, but ... Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/\" \/>\n<meta property=\"og:site_name\" content=\"ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-04T12:19:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-05-04T12:20:48+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_SP500.png\" \/>\n<meta name=\"author\" content=\"Dr. Duru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@drduru\" \/>\n<meta name=\"twitter:site\" content=\"@drduru\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dr. Duru\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2017\\\/05\\\/04\\\/t2108-update-170503\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2017\\\/05\\\/04\\\/t2108-update-170503\\\/\"},\"author\":{\"name\":\"Dr. Duru\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"headline\":\"Above the 40 (May 3, 2017) &#8211; Technical Setbacks Masked By Gains for Financials and Apple Comeback\",\"datePublished\":\"2017-05-04T12:19:07+00:00\",\"dateModified\":\"2017-05-04T12:20:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2017\\\/05\\\/04\\\/t2108-update-170503\\\/\"},\"wordCount\":964,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"image\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2017\\\/05\\\/04\\\/t2108-update-170503\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2017\\\/05\\\/170503_SP500.png\",\"keywords\":[\"AAPL\",\"AT40\",\"IWM\",\"MDY\",\"S&amp;P 500\",\"SPY\",\"T2108\",\"VIX\",\"XLF\"],\"articleSection\":[\"Financials\",\"High Tech\",\"Resistance\",\"Support\",\"Technical Analysis\",\"Top\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2017\\\/05\\\/04\\\/t2108-update-170503\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2017\\\/05\\\/04\\\/t2108-update-170503\\\/\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2017\\\/05\\\/04\\\/t2108-update-170503\\\/\",\"name\":\"Above the 40 (May 3, 2017) - Technical Setbacks Masked By Gains for Financials and Apple Comeback - ONE-TWENTY TWO: Trading Financial Markets\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2017\\\/05\\\/04\\\/t2108-update-170503\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2017\\\/05\\\/04\\\/t2108-update-170503\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2017\\\/05\\\/170503_SP500.png\",\"datePublished\":\"2017-05-04T12:19:07+00:00\",\"dateModified\":\"2017-05-04T12:20:48+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2017\\\/05\\\/04\\\/t2108-update-170503\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2017\\\/05\\\/04\\\/t2108-update-170503\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2017\\\/05\\\/04\\\/t2108-update-170503\\\/#primaryimage\",\"url\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2017\\\/05\\\/170503_SP500.png\",\"contentUrl\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2017\\\/05\\\/170503_SP500.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2017\\\/05\\\/04\\\/t2108-update-170503\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Above the 40 (May 3, 2017) &#8211; Technical Setbacks Masked By Gains for Financials and Apple Comeback\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\",\"name\":\"ONE-TWENTY TWO: Trading Financial Markets\",\"description\":\"Exploring the poetry in financial markets for students of money and economy since the year 2000.\",\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\",\"name\":\"Dr. Duru\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"contentUrl\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"width\":900,\"height\":100,\"caption\":\"Dr. Duru\"},\"logo\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.drduru.com\\\/onetwentytwo\",\"https:\\\/\\\/www.instagram.com\\\/drduru_market_breadth\\\/\",\"https:\\\/\\\/x.com\\\/drduru\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Above the 40 (May 3, 2017) - Technical Setbacks Masked By Gains for Financials and Apple Comeback - ONE-TWENTY TWO: Trading Financial Markets","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/","og_locale":"en_US","og_type":"article","og_title":"Above the 40 (May 3, 2017) - Technical Setbacks Masked By Gains for Financials and Apple Comeback - ONE-TWENTY TWO: Trading Financial Markets","og_description":"AT40 = 53.0% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 59.0% of stocks are trading above their respective 200DMAs VIX = 10.7 (volatility index) Short-term Trading Call: bullish Commentary The Federal Reserve effectively reaffirmed its commitment to two more rate hikes this year. The S&#038;P 500 (SPY) yawned, but ... Read more","og_url":"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/","og_site_name":"ONE-TWENTY TWO: Trading Financial Markets","article_published_time":"2017-05-04T12:19:07+00:00","article_modified_time":"2017-05-04T12:20:48+00:00","og_image":[{"url":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_SP500.png","type":"","width":"","height":""}],"author":"Dr. Duru","twitter_card":"summary_large_image","twitter_creator":"@drduru","twitter_site":"@drduru","twitter_misc":{"Written by":"Dr. Duru","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/#article","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/"},"author":{"name":"Dr. Duru","@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"headline":"Above the 40 (May 3, 2017) &#8211; Technical Setbacks Masked By Gains for Financials and Apple Comeback","datePublished":"2017-05-04T12:19:07+00:00","dateModified":"2017-05-04T12:20:48+00:00","mainEntityOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/"},"wordCount":964,"commentCount":0,"publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"image":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/#primaryimage"},"thumbnailUrl":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_SP500.png","keywords":["AAPL","AT40","IWM","MDY","S&amp;P 500","SPY","T2108","VIX","XLF"],"articleSection":["Financials","High Tech","Resistance","Support","Technical Analysis","Top"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/","url":"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/","name":"Above the 40 (May 3, 2017) - Technical Setbacks Masked By Gains for Financials and Apple Comeback - ONE-TWENTY TWO: Trading Financial Markets","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#website"},"primaryImageOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/#primaryimage"},"image":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/#primaryimage"},"thumbnailUrl":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_SP500.png","datePublished":"2017-05-04T12:19:07+00:00","dateModified":"2017-05-04T12:20:48+00:00","breadcrumb":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/#primaryimage","url":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_SP500.png","contentUrl":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2017\/05\/170503_SP500.png"},{"@type":"BreadcrumbList","@id":"https:\/\/drduru.com\/onetwentytwo\/2017\/05\/04\/t2108-update-170503\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/drduru.com\/onetwentytwo\/"},{"@type":"ListItem","position":2,"name":"Above the 40 (May 3, 2017) &#8211; Technical Setbacks Masked By Gains for Financials and Apple Comeback"}]},{"@type":"WebSite","@id":"https:\/\/drduru.com\/onetwentytwo\/#website","url":"https:\/\/drduru.com\/onetwentytwo\/","name":"ONE-TWENTY TWO: Trading Financial Markets","description":"Exploring the poetry in financial markets for students of money and economy since the year 2000.","publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/drduru.com\/onetwentytwo\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":["Person","Organization"],"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0","name":"Dr. Duru","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","url":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","contentUrl":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","width":900,"height":100,"caption":"Dr. Duru"},"logo":{"@id":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg"},"sameAs":["http:\/\/www.drduru.com\/onetwentytwo","https:\/\/www.instagram.com\/drduru_market_breadth\/","https:\/\/x.com\/drduru"]}]}},"_links":{"self":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/39237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/comments?post=39237"}],"version-history":[{"count":5,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/39237\/revisions"}],"predecessor-version":[{"id":39247,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/39237\/revisions\/39247"}],"wp:attachment":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/media?parent=39237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/categories?post=39237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/tags?post=39237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}