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Trend table status

Trend

SP-500

R2000

COMPX

Primary

Up 7/31/20

?- 3/31/20

Up 5/29/20

Intermediate

Up 8/14/20

Up 8/21/20

?+ 9/18/20

Sub-Intermediate

?- 9/15/20

Dn 9/11/20

?- 9/14/20

Short term

? 9/4/20

? 8/18/20

? 9/4/20


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 (-)

Friday, December 14, 2012

Daily update 12/14

The plot thickens.  Here is the daily SPX chart.


SPX closed below its 50 SMA, but just on top of its 18 .  Volume was down from yesterday.  Will the bulls show up here or wait for 1400 to be tested?  Lets look at the 195 minute SPY chart.


SPY is testing its 100 and 200 SMAs from above.  There is potential support in this area. 

Lets look at the weekly SPX chart.


This week left a shooting star candle that crossed above the 18 SMA, but closed back below it.  The last two candles were hanging man so this is really three bearish candles in a row. 

Here is another look at the weekly VIX chart.


The VIX closed back above its 6 SMA after testing down below its 18 SMA this week.  There is still the potential for a spike in volatility. 

I think the market is finally starting to really concentrate on the fiscal cliff talks.  I noticed some of the defense stocks got whacked a bit the last two days.  Defense cuts are a big part of the scheduled cuts so this shows a little nervousness setting in.  I think next week will be all about the sound bites and I don't know how to predict that exactly.  So far I am not hearing anything that sounds like a deal is imminent which is as I expect.

Chart practice has been updated with AMZN the stock today.
http://traderbob58-chart-practice.blogspot.com/

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.