{"id":6172,"date":"2011-07-18T20:33:31","date_gmt":"2011-07-19T00:33:31","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=6172"},"modified":"2011-07-18T20:33:31","modified_gmt":"2011-07-19T00:33:31","slug":"t2108-update-110718","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2011\/07\/18\/t2108-update-110718\/","title":{"rendered":"T2108 Update – July 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>: 42%.
\nVIX Status<\/strong>: 21.0.
\nGeneral (Short-term) Trading Call<\/strong>: Hold.<\/p>\n

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

T2108 dropped from 54% to 42% as the regularly scheduled selling resumed<\/a> in the stock market. T2108 remains on target for hitting the low 30s, perhaps even this week. The S&P 500 dropped 0.8% and seems destined to retest the 200DMA sooner than later. If everything somehow works out “perfectly,” the index will execute its retest just as T2108 hits oversold levels (20% or below).<\/p>\n

Apple (AAPL) remains a very strange caveat to all this bearishness. While sellers were busy pushing the general market down, buyers were snapping up all the Apple shares from the orchard. Apple saw strong buying all day and hit another fresh all-time high at $373.80, closing with a 2.4% gain. Amazing how much difference a mere month can make. I will definitely be watching Apple earnings with GREAT interest Tuesday evening!<\/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 puts on SSO, long SDS<\/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: 42%. VIX Status: 21.0. General (Short-term) Trading Call: Hold. Commentary T2108 dropped from 54% to 42% as the regularly scheduled selling resumed in the stock market. T2108 remains on … 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":[65,656,446,226,1597],"class_list":["post-6172","post","type-post","status-publish","format-standard","hentry","category-stock-market-trading","category-technical-analysis","tag-sp-500","tag-sds","tag-sso","tag-t2108","tag-technical-analysis"],"yoast_head":"\nT2108 Update - July 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\/07\/18\/t2108-update-110718\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"T2108 Update - July 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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