{"id":6886,"date":"2011-08-23T03:29:52","date_gmt":"2011-08-23T07:29:52","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=6886"},"modified":"2011-08-23T03:29:52","modified_gmt":"2011-08-23T07:29:52","slug":"t2108-update-110822","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2011\/08\/23\/t2108-update-110822\/","title":{"rendered":"T2108 Update – August 22, 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>. You can follow real-time T2108 commentary<\/a> on twitter using the #T2108 hashtag.)<\/p>\n

T2108 Status<\/strong>: 14% (Day #13 of the current oversold period).
\nVIX Status<\/strong>: 42
\nGeneral (Short-term) Trading Call<\/strong>: Only add to bullish positions on dips. Hold any remaining bearish positions as small hedges. See below for new modifications.<\/p>\n

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

After a strange Friday<\/a>, Monday’s trading ended the day at a stalemate. The gap down that I feared never happened as the S&P 500 opened the day up and rallied quickly over 1%. However, sellers were once again very effective in pressing prices back down. The S&P 500 ended essentially flat as did T2108 and the VIX. Interestingly, VXX rallied from a gap down to a 3% gain on the day.<\/p>\n

Overall, nothing much to report as every anxious trader and investor, bullish or bearish, anxiously watches the 2011 lows. The buyers still have a LOT to prove.<\/p>\n

Finally, note that this oversold period is now as long as the 13-day run in 1990. Only 5 other oversold periods have lasted longer: 1987, 2008 (3 times) and 2009. The increasingly extreme nature of this oversold period continues to convince me that whenever a surge upward occurs, it will be massive. The trick is to stay in the game long enough to benefit. (On Friday<\/a>, I posted new rules crafted for this juncture).<\/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 shares and calls on SSO, long VXX puts, long AMZN put<\/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. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag.) T2108 Status: 14% (Day #13 of the current oversold period). VIX Status: 42 General (Short-term) Trading Call: Only add … 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-6886","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 - August 22, 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\/08\/23\/t2108-update-110822\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"T2108 Update - August 22, 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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