Looks like there was a good reason to wait on flipping my short-term trading call back to (cautiously) bearish. After pointing out that AT40 (T2108), the percentage of stocks trading above their respective 40-day moving averages (DMAs), completed an ominous fade from the overbought threshold at 70%, my favorite indicator proceeded to drift higher to close the week just under last Friday’s close.
Above The 40 – Stock Market Drift Stalls Bearish Signal
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