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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, January 14, 2013

Daily update 1/14

Another snooze fest.  Here is the daily SPX chart.


Another day another hanging man candle.  Still a potential short term topping pattern.  Will we get confirmation of a pullback soon?  Here is the 195 minute SPY chart.


The first candle today added another distribution bar to the volume pattern.  The volume the rest of the day was extremely light.  This chart looks like it is in position to roll over.  Here is the stocks vs their MAs chart.


This chart is starting to show some divergences developing.   The number of stocks above their 10 DMA has clearly turned down.  It looks like the odds of a pullback are increasing a bit.

The daily 18 SMA is at 1446.  I think that would be a target area for a pullback from here to start with.

Chart practice has been updated with AAPL 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.