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Above The 40: Stocks Not Yet Oversold

The technical damage continues in the stock market. Amid all the carnage and massive gap downs, I am surprised AT40 (T2108), the percentage of stocks trading above their respective 40-day moving averages (DMAs) is still above the threshold for oversold trading conditions (20%). My favorite technical indicator closed at 23.4%. In the last oversold period, T2108 closed as low as 9.7%.

Read more at :–not-yet-oversold-but-stock-market-makes-an-impo-200361325


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