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

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 (-)

Thursday, February 14, 2013

Daily update 2/14

SPX has managed to gain 4 points over the last four trading days.  I guess that means the best prediction for tomorrow is that we will close up 1 point.  The Dow remained below 14000 today.  Here is the daily SPX chart.


The volume increased again today and quite a bit.  That seems rather odd given the tiny move up.  The SPY daily volume was actually a bit lower today then yesterday.  Lets zoom in to the SPY 195 minute chart.


We do have a potential double top forming over the last two days.  A break of this morning's low would confirm that pattern. 

The TLT daily chart is kind of interesting tonight.


TLT has spent the last nine trading days inside the range of the 2/1 big down bar.  Yesterday was a high volume doji bar as it tested that earlier low.  Today was a high volume bar to the upside.  This looks like it could be forming a bottom.  This bears watching as it could mean a rotation from stocks back into bonds is about to start. 

We have had several slow creeps north in the stock market over the last few years.  This one point a day is the smallest one yet.  I think this rally has about run its course.

Bob

No comments:

Important

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