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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

?+ 4/23/20

?+ 4/30/21

Sub-Intermediate

Up 3/29/21

? 4/5/21

?- 5/10/21

Short term

Up 4/1/21

Dn 5/10/21

Dn 5/4/21


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 (-)

Monday, August 20, 2012

Daily update 8/20

At the risk of sounding like a broken record it was another low volume and low volatility day.  Here is the daily SPX chart.


We have a clear hanging man candle today.  Will that usher in a pullback?  I have no idea.  We are close enough to the intraday high of the year it could act as a magnet.  I am really at a loss for words.  We might get more of nothing until the next headline drives people to action.  The market is over bought and VIX is extremely low.  That makes the odds of an explosive move up to new highs and beyond low without a news event that is truly a positive catalyst and not more talk.  Like I said in a previous update, it is easier to get here then it will be to go higher.

This is likely the only time in history that the economic data is this bad while the market is at its highs.  Clearly this move is built on hope, not on fundamentals.  I guess we will see how well that works out. 

Chart practice has been updated if interested.  http://traderbob58-chart-practice.blogspot.com/

Bob

1 comment:

Anonymous said...

Hope of QE and actual QE implemented in July by BOE, PBOC, and ECB. Sad really. I wonder when I'll get a chance to learn TA and fundamental analysis in their proper environments. Many indicators are screaming sell. But, they did the same in Feb and the market kept roling. In April, the market listened to those same indicators. What is one to do this time around? If unsure, cash is a good position too.

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