AT40 = 27.3% of stocks are trading above their respective 40-day moving averages (DMAs)
AT200 = 36.2% of stocks are trading above their respective 200DMAs (new 2-year closing and intraday lows)
VIX = 23.6
Short-term Trading Call: neutral

Commentary

In my last Above the 40, I tried to highlight the positives even as the negatives in the market grew. Sellers saw fit to remove one more positive: AT40 (T2108), the percentage of stocks trading above their respective 40-day moving averages (DMAs), effectively ended the pattern of higher lows with an intraday which tested the last low. Piling on, AT200 (T2107), the percentage of stocks trading above their respective 200-day moving averages (DMAs), set new 2-year lows at its intraday low and its close. So more and more stocks are suffering major breakdowns of long-term uptrends.