If you would like an email sent to you when I update the blog please send an email with "subscribe" in the subject line to traderbob58@gmail.com. To be removed use "unsubscribe".

Search This Blog or Web

Trend table status






Up 7/31/20

Up 1/29/21

Up 5/29/20


Up 10/2/20

?+ 4/23/20

?+ 4/30/21


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, September 10, 2012

Daily update 9/10

The market gave back some today.  Here is the daily SPX chart.

SPX is still above its break out point, but just barely.  It did get back inside the Bollinger band since the bar is no longer blue.  It also closed below yesterday's low.  I don't know what more to say until we find out where support comes in or we clearly fail the break out.  What may be more important today is the COMPX chart.

The red line was the spring high.  It barely closed above it the last two days and clearly failed today.  I know a lot of people watch this index and like to see it leading on the upside.  That is not happening at the moment.  Is this an early sign the SPX break out is going to fail?  It is probably too soon to tell, but I would say this rates a caution flag.  We will just have to see what the bulls do tomorrow.

Chart practice has been updated with a look at RIMM from Friday and today's stock UPS.


No comments:


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