{"id":5182,"date":"2011-05-25T21:14:00","date_gmt":"2011-05-26T01:14:00","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=5182"},"modified":"2011-05-25T21:14:00","modified_gmt":"2011-05-26T01:14:00","slug":"t2108-update-110525","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2011\/05\/25\/t2108-update-110525\/","title":{"rendered":"T2108 Update: May 25, 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>: 41% and Neutral
\nGeneral Trading Call<\/strong>: Hold.<\/p>\n

Commentary<\/strong>
\nT2108 drifted upward to 41% and out of my downside target range<\/a> of 30-40%. While my bias remains that this trading cycle will end with T2108 entering the bottom of this range, I must take into account the possibility that this rise, marginal as it is, has already signaled the lows for this cycle. In fact, as I write, Asian stock markets opened sharply higher, and the U.S. dollar is selling off. <\/p>\n

The S&P 500 reminded us why and how technicals matter, especially in the short-term. After plumbing the lows of the month again, and failing again to follow-through on Monday’s big sell-off, the S&P 500 made a rush for the 50DMA and stopped cold. I am posting the chart this time given the fascinating churn we have seen these past few days.<\/p>\n


\n
\"The<\/a>
The S&P 500 has failed to close at new lows for the month and follow-through on Monday's big sell-off<\/figcaption><\/figure>
\n*Chart created using TeleChart:<\/strong> <\/a>
\n<\/center>
\n<\/p>\n

Notice that the S&P 500 could rally back to 1334 or so and still remain within the current downtrend. This level would be Monday’s high, so, I will not be surprised if we get such a rally by Friday before sellers return to close out positions ahead of the holiday weekend.<\/p>\n

The trading call is hold given the balance of up and downside risks (I love Fed-speak!)<\/p>\n


\nCharts below are the latest<\/strong> snapshots of T2108 (and the S&P 500)<\/em>
\nRefresh browser if the charts are the same as the last T2108 update.
\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, net short U.S. dollar<\/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: 41% and Neutral General Trading Call: Hold. Commentary T2108 drifted upward to 41% and out of my downside target range of 30-40%. While my bias remains that this trading … 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-5182","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 25, 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\/25\/t2108-update-110525\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"T2108 Update: May 25, 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]. To learn more about it, see my T2108 Resource Page.) T2108 Status: 41% and Neutral General Trading Call: Hold. Commentary T2108 drifted upward to 41% and out of my downside target range of 30-40%. While my bias remains that this trading ... 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