{"id":5362,"date":"2011-06-07T18:00:31","date_gmt":"2011-06-07T22:00:31","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=5362"},"modified":"2011-06-07T18:02:44","modified_gmt":"2011-06-07T22:02:44","slug":"t2108-update-110607","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/07\/t2108-update-110607\/","title":{"rendered":"T2108 Update – June 7, 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>: 32% and Neutral.
\nGeneral Trading Call<\/strong>: Continue covering shorts. Identify longs for buying IF T2108 gets to official oversold territory at 20% or below.<\/p>\n

Commentary<\/strong>
\nT2108 made a minor move up to 32% from 30%. The stock market was working on a classic snapback from oversold conditions<\/a> until Federal Reserve Chairman Ben Bernanke began speaking on the economy<\/a>. He admitted that the economy is slowing down but that the malaise is only temporary (seems that everything the Fed does not like is transitory or temporary these days!). Bernanke made no mention on the potential of further monetary easing. Why would he if he is trying to convince people that the current slowdown is a blip? The hard selling into the close could be a mini-preview of what is to come if the market ever concludes that additional monetary easing, like a QE3, will not happen in the face of what looks like looming\/growing economic weakness.<\/p>\n

The S&P 500 almost recovered all its losses from yesterday but closed down a point instead.<\/p>\n

The trading call remains the same as yesterday given the very marginal change in T2108.<\/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<\/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: 32% and Neutral. General Trading Call: Continue covering shorts. Identify longs for buying IF T2108 gets to official oversold territory at 20% or below. Commentary T2108 made a minor … 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-5362","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 - June 7, 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\/06\/07\/t2108-update-110607\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"T2108 Update - June 7, 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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