{"id":5685,"date":"2011-06-21T20:30:33","date_gmt":"2011-06-22T00:30:33","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=5685"},"modified":"2011-06-21T20:59:19","modified_gmt":"2011-06-22T00:59:19","slug":"t2108-update-110621","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/21\/t2108-update-110621\/","title":{"rendered":"T2108 Update – June 21, 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>: 33% and neutral.
\nVIX Status<\/strong>: 20; completely erased all gains from the oversold period.
\nGeneral (Short-term) Trading Call<\/strong>: Hold (or lock in some profits to allow you the comfort to continue holding remaining trading longs until they test some natural line of resistance).<\/p>\n

Commentary<\/strong><\/p>\n

Now TODAY was the kind of oversold bounce I was looking for!<\/p>\n

T2108 jumped to 33% as the S&P launched higher by 1.3%. Not only is the index now at two-week highs in a blink, but also the volatility index has lost all its gains from the two-day oversold period. A trader can now can get a wee bit more comfortable that a lasting bottom is in place (meaning the bias switches to buying on dips rather than shorting on rallies and NOT that the recent lows will never be broken again).<\/p>\n

This whole trip into and out from the oversold period was also a great reminder of why executing to rules rather than to emotion is so important. The market felt awful<\/strong> during those two oversold days, yet, here we are now with a 4-day rally well in place that has essentially wiped out most traces of that oversold period. (Recall that 56% of all oversold periods lasting only 1-2 days<\/a>.)<\/p>\n

Key to my slight increase in optimism is that Apple (AAPL) finally woke up. AAPL gained an impressive 3% on the day and helped the NASDAQ gain 2.2%. AAPL still must prove itself as it closed just under the all-important 200-day moving average. Moreover, the overall downtrend in the S&P 500 is still intact and a declining 50DMA looms about 2% overhead. So, the bias is back in favor of the bulls, but there is little room for celebrating yet.<\/p>\n


\n
\"Support<\/a>
Support for the S&P 500 looks obvious in retrospect but an oversold T2108 helped us to stand firm there<\/figcaption><\/figure>
\n<\/center>
\n<\/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, long AAPL calls<\/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: 33% and neutral. VIX Status: 20; completely erased all gains from the oversold period. General (Short-term) Trading Call: Hold (or lock in some profits to allow you the comfort … 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":[250,534,65,226,1597],"class_list":["post-5685","post","type-post","status-publish","format-standard","hentry","category-stock-market-trading","category-technical-analysis","tag-aapl","tag-apple-inc","tag-sp-500","tag-t2108","tag-technical-analysis"],"yoast_head":"\nT2108 Update - June 21, 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\/21\/t2108-update-110621\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"T2108 Update - June 21, 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: 33% and neutral. VIX Status: 20; completely erased all gains from the oversold period. General (Short-term) Trading Call: Hold (or lock in some profits to allow you the comfort ... Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/21\/t2108-update-110621\/\" \/>\n<meta property=\"og:site_name\" content=\"ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"article:published_time\" content=\"2011-06-22T00:30:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2011-06-22T00:59:19+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/06\/110621_SP500.jpg\" \/>\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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/06\\\/21\\\/t2108-update-110621\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/06\\\/21\\\/t2108-update-110621\\\/\"},\"author\":{\"name\":\"Dr. Duru\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"headline\":\"T2108 Update – June 21, 2011\",\"datePublished\":\"2011-06-22T00:30:33+00:00\",\"dateModified\":\"2011-06-22T00:59:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/06\\\/21\\\/t2108-update-110621\\\/\"},\"wordCount\":420,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"image\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/06\\\/21\\\/t2108-update-110621\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2011\\\/06\\\/110621_SP500.jpg\",\"keywords\":[\"AAPL\",\"Apple Inc\",\"S&P 500\",\"T2108\",\"Technical Analysis\"],\"articleSection\":[\"Stock Market Trading\",\"Technical Analysis\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/06\\\/21\\\/t2108-update-110621\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/06\\\/21\\\/t2108-update-110621\\\/\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/06\\\/21\\\/t2108-update-110621\\\/\",\"name\":\"T2108 Update - June 21, 2011 - ONE-TWENTY TWO: Trading Financial Markets\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/06\\\/21\\\/t2108-update-110621\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/06\\\/21\\\/t2108-update-110621\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2011\\\/06\\\/110621_SP500.jpg\",\"datePublished\":\"2011-06-22T00:30:33+00:00\",\"dateModified\":\"2011-06-22T00:59:19+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/06\\\/21\\\/t2108-update-110621\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/06\\\/21\\\/t2108-update-110621\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/06\\\/21\\\/t2108-update-110621\\\/#primaryimage\",\"url\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2011\\\/06\\\/110621_SP500.jpg\",\"contentUrl\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2011\\\/06\\\/110621_SP500.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/06\\\/21\\\/t2108-update-110621\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"T2108 Update – June 21, 2011\"}]},{\"@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":"T2108 Update - June 21, 2011 - 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\/2011\/06\/21\/t2108-update-110621\/","og_locale":"en_US","og_type":"article","og_title":"T2108 Update - June 21, 2011 - ONE-TWENTY TWO: Trading Financial Markets","og_description":"(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: 33% and neutral. VIX Status: 20; completely erased all gains from the oversold period. General (Short-term) Trading Call: Hold (or lock in some profits to allow you the comfort ... Read more","og_url":"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/21\/t2108-update-110621\/","og_site_name":"ONE-TWENTY TWO: Trading Financial Markets","article_published_time":"2011-06-22T00:30:33+00:00","article_modified_time":"2011-06-22T00:59:19+00:00","og_image":[{"url":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/06\/110621_SP500.jpg","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":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/21\/t2108-update-110621\/#article","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/21\/t2108-update-110621\/"},"author":{"name":"Dr. Duru","@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"headline":"T2108 Update – June 21, 2011","datePublished":"2011-06-22T00:30:33+00:00","dateModified":"2011-06-22T00:59:19+00:00","mainEntityOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/21\/t2108-update-110621\/"},"wordCount":420,"commentCount":0,"publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"image":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/21\/t2108-update-110621\/#primaryimage"},"thumbnailUrl":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/06\/110621_SP500.jpg","keywords":["AAPL","Apple Inc","S&P 500","T2108","Technical Analysis"],"articleSection":["Stock Market Trading","Technical Analysis"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/drduru.com\/onetwentytwo\/2011\/06\/21\/t2108-update-110621\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/21\/t2108-update-110621\/","url":"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/21\/t2108-update-110621\/","name":"T2108 Update - June 21, 2011 - ONE-TWENTY TWO: Trading Financial Markets","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#website"},"primaryImageOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/21\/t2108-update-110621\/#primaryimage"},"image":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/21\/t2108-update-110621\/#primaryimage"},"thumbnailUrl":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/06\/110621_SP500.jpg","datePublished":"2011-06-22T00:30:33+00:00","dateModified":"2011-06-22T00:59:19+00:00","breadcrumb":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/21\/t2108-update-110621\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/drduru.com\/onetwentytwo\/2011\/06\/21\/t2108-update-110621\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/21\/t2108-update-110621\/#primaryimage","url":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/06\/110621_SP500.jpg","contentUrl":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/06\/110621_SP500.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/21\/t2108-update-110621\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/drduru.com\/onetwentytwo\/"},{"@type":"ListItem","position":2,"name":"T2108 Update – June 21, 2011"}]},{"@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\/5685","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=5685"}],"version-history":[{"count":9,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/5685\/revisions"}],"predecessor-version":[{"id":5695,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/5685\/revisions\/5695"}],"wp:attachment":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/media?parent=5685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/categories?post=5685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/tags?post=5685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}