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Trend table status

Trend

SP-500

R2000

COMPX

Primary

Up 7/31/20

Up 1/29/21

Up 5/29/20

Intermediate

Up 10/2/20

Up 8/21/20

? 3/26/21

Sub-Intermediate

Up 3/29/21

?- 4/5/21

? 4/1/21

Short term

Up 4/1/21

Up 4/5/21

Up 4/1/21

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 (-)

Wednesday, May 2, 2012

SPX update 5/2

Looking at the daily chart it would appear the market is trying not to decide which way to go.  Check out the chart.


As the price pattern is developing it is looking like we are forming a box between the .786 retrace line and key support at 1392.  Inside that box anything can happen.  SPX tried to break out on the upside and failed which gives the bears a slight edge.  Hopefully it won't take too many more days for the market to decide. 

Bob
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The information in this blog is provided for educational purposes only and is not to be construed as investment advice.