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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

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 (-)

Tuesday, January 29, 2013

Daily update 1/19

A little disconnection in the indexes today.  The COMPX, Russell 2000, and the transports noticeably  lagged the SPX and the Dow today.  Here is the daily SPX chart.


The moon shot continued today.  Volume was pretty heavy also.  Lets look at some internals.


The number of stocks above their 10, 20 and 50 SMAs all continued to drop today.  It looks like some profit taking has entered the market.  How about a peek at the new highs chart.


Today had the lowest number of new highs since 1/16. 

Despite SPX being up over .5% today there were only 56% of NYSE stocks positive.  The MClellan oscillator was 57.  With SPX at  new bull market highs these are low numbers.  The internals are weakening now as price moves higher.  How much longer can it keep going?

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.