What can you say after a historic day like today? The indices had some of the worst percentage drops on record today. The Nasdaq 100 was down a whopping 10.5% today, largely thanks to it being heavily weighted to the likes of AAPL (-18%) and GOOG (-11.6%). Much of what I write [...]

“Nobody makes money in a true bear market, not even the bears“

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The action this week got me thinking that I need to write a Duru-like missive on shorting. But since I don’t have a Ph.D you’ll just have to suffer through the following rant which I’ll try to keep relatively short. [...]

So I was looking through my charts today and was shocked when I got to T2108 (Worden’s indicator for % of NYSE stocks above their 40-day moving averages). While the indices have been steadily hitting new highs (notably excluding the Russell 2000 and financials) T2108 has been trending down. In other words, a [...]

Sellers ruled again today. They closed the market on its lows for the second straight session and left every sector & index in the red once again. The last five sessions have showcased some impressive selling. The bulls haven’t been able to hold the Dow, Nasdaq or S&P 500 above their lower [...]

About the only thing that went the bulls’ way on Friday was the decline in volume. It was another day of broad-based selling across the market. Just like on Tuesday, there’s a whole lot of red on the StockCharts Market Summary Page. All the major indices were down more than 1% and [...]

There’s not much to say about today besides “more of the same”. We had another high(er) volume sell off complete with very negative breadth. The headline of the day is that the Dow has now gone negative for the year. (As if things just got ugly today… but who cares about the [...]

By Govind’s request:

It will be helpful if u post the T2108 during 2000 top to 2002 bottom.It will give an idea about indicator trend during bear market. $SPXA50R is available for only 3 years.

Here it is. You can click for a larger version. The S&P 500 is in red.

As you [...]

Steve wrote:

Wondering if you can do another chart on google to see if it will go down. Also whether you can show what is current status of Worden’s trusty T2108 indicator.

Of course I can’t whether GOOG will go down, just if I think the odds of it going down are goodl. It looks like [...]

It seems like I’ve made this same comment on all of the rally days of the last few weeks — volume was lacking. That was about the only thing wrong with today’s move. It’s also interesting to note that the S&P 500 stopped right between the two levels I mentioned this morning. [...]

Worden’s trusty T2108 indicator (% of NYSE stocks above their 40-day moving averages) dropped 23.71% today and closed below 20. As I’ve pointed out several times before when it reaches 20 the market’s seriously oversold. When I pointed out the break of 20 back in March the market quickly bounced, pushing T2108 up [...]