Stock Market Analysis from Traderbob58: SPX update

Trend table status

Trend	SP-500	R2000	COMPX
Primary	Up 7/31/20	?- 3/31/20	Up 5/29/20
Intermediate	Up 10/2/20	Up 8/21/20	Up 10/9/20
Sub-Intermediate	? 1/4/21	? 1/4/21	?+ 1/4/21
Short term	? 12/11/20	? 1/4/21	Up 11/24/20

Don Worden of Worden Brothers (makers of Telechart software) used to keep a trend table before his health issues got in the way. I always found it useful. Mine is slightly different. Hopefully helpful. Up? or Dn? means loss of momentum. ? by itself means trend is neutral. ?+ or ?- means trend is neutral with bias of up(+) or down (-)

Tuesday, April 24, 2012

SPX update

Here is the latest 195 minute chart. Things are starting to get clearer with levels to react to.

The red line is the 4/10 low. That was a very over sold condition and when that type of low breaks it usually means a cascade down. The green line is possible resistance at the last swing high. Until SPX clears that line we are still technically in a trading range. The light blue line is marking the down trend and would be the first bullish sign if broken. In between the red and green lines, anything can happen. The futures are up a good bit tonight on AAPL earnings. That down trend line might come into play early in the morning. I suspect a lot of traders will be watching the reaction of AAPL after the open.

Bob