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, March 14, 2013

Daily update 3/14

Launch off the trend lines.  Here is the daily SPX chart.


SPX is 2 points away from its highest close and 13 points away from its intraday high.  Will we get to one or both of those targets tomorrow?  Here is the SPY 195 minute chart.


That is a very steep trend line SPY is climbing.  I think it goes ex dividend tomorrow which is going to mess up my nice pretty trend line setup again. 

Not much to say here as long as we keep closing above the trend lines.  Until we get a fix on how the market is going to handle the test of the all time highs in SPX there is not much too do.  The market is way too extended to add long exposure (except day trades) and in a momentum up move so no reason to short it.

Bob

No comments:

Important

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