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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

?+ 9/25/20

Up 8/21/20

?+ 9/18/20

Sub-Intermediate

?- 9/15/20

Dn 9/11/20

Dn 9/21/20

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 (-)

Monday, December 24, 2012

Daily update 12/24

No rebound from Friday's big move down.  Here is the daily SPX chart.


SPX closed right around the down trend line again.  The lack of a bounce today and the lower close means the bargain hunters were missing in action.  Will they come back after the holiday?  Lets zoom in to the 195 minute SPY chart.


The 6 SMA has clearly crossed below the 18 SMA for the first time since the rally started.  The 18 SMA is starting to roll over also.  This chart is starting to turn negative.  Will the bulls show up and save the day?  I think that will all depend on the talk out of Washington.  I don't expect any deal, so I would not expect the bulls to show up.  This could surprise people (or me if I am wrong) as I think the majority still expect a deal.  As we get closer to the end of the month with no deal, the market may care more and more about it.

Happy Holidays to all that celebrate this time of year.  Safe journey to all that are traveling this week.  For everybody else, Happy Week. 

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.