{"id":5078,"date":"2011-05-18T20:15:39","date_gmt":"2011-05-19T00:15:39","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=5078"},"modified":"2011-05-18T20:15:39","modified_gmt":"2011-05-19T00:15:39","slug":"t2108-110518","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2011\/05\/18\/t2108-110518\/","title":{"rendered":"T2108 Update: May 18, 2011"},"content":{"rendered":"

(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. To learn more about it, see my T2108 Resource Page<\/a>.)<\/p>\n

T2108 Status<\/strong>: 54% and Neutral
\nGeneral Trading Call<\/strong>: Hold.<\/p>\n

Commentary<\/strong>
\nT2108 jumped 7.5 percentage points from yesterday’s 46% level. As expected<\/a>, conditions were ripe for a bounce given T2108 had dropped below the April low, and the S&P 500 was toying with support directly on the 50DMA with a hammer candlestick pattern<\/a>. The S&P 500 rallied a little less than 1% right into the short-term downtrend line (chart not shown, see stockcharts for further detail<\/a>). While it could make sense to attempt a fade here, recall that once the April short-term downtrend broke with a gap above the 50DMA, the S&P 500 raced straight to fresh multi-year highs. I am not expecting such a fresh run, but this is the context of risk that a trader must keep in mind.<\/p>\n

The general trading call is set to neutral to reflect the above-mentioned balance of upside\/downside risks.<\/p>\n


\nCharts below are the latest<\/strong> snapshots of T2108 (and the S&P 500)<\/em>
\n<\/p>\n

Daily T2108 vs the S&P 500<\/strong>
\n\"T2108<\/p>\n

Black line: T2108 (measured on the right); Red line: S&P 500 (for comparative purposes)
\n<\/center><\/p>\n


\nWeekly T2108<\/strong>
\n\"Weekly
\n*All charts created using TeleChart:<\/strong> <\/a>
\n<\/center><\/p>\n

Related links:<\/strong>
\nThe T2108 Resource Page<\/a>
\nExpanded daily chart of T2108 versus the S&P 500<\/a>
\nExpanded weekly chart of T2108 <\/a><\/p>\n

Be careful out there!<\/p>\n

Full disclosure: long SSO puts<\/p>\n","protected":false},"excerpt":{"rendered":"

(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. To learn more about it, see my T2108 Resource Page.) T2108 Status: 54% and Neutral General Trading Call: Hold. Commentary T2108 jumped 7.5 percentage points from yesterday’s 46% level. As expected, conditions were ripe for a bounce given T2108 had dropped … 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":[135,62],"tags":[65,226,1597],"class_list":["post-5078","post","type-post","status-publish","format-standard","hentry","category-stock-market-trading","category-technical-analysis","tag-sp-500","tag-t2108","tag-technical-analysis"],"yoast_head":"\nT2108 Update: May 18, 2011 - 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\/2011\/05\/18\/t2108-110518\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"T2108 Update: May 18, 2011 - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. 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