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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 (-)

Thursday, March 21, 2013

Daily update 3/21

Today was kind of a mirror image of yesterday.  The bears sold the gap up yesterday, and the bulls bought the gap down today.  Here is the daily SPX chart.


We ended up with a new low close for the current pullback.  SPX is still above its 18 SMA.  The bulls are putting up a fight.  That is good for bulls if they win, otherwise it is food for bears.  Lets zoom in to the SSO 195 minute chart.


The dip buyers have formed a support line the last few days.  It looks like that level was resistance briefly in the circled price area.  I don't believe that is going to hold for long.  Here is the TLT daily chart.


This chart is looking more and more like a bottom.  If that is the case it would make it more likely stocks are starting a more serious move down rather then a short lived pullback.  Investors have been dreaming of a world that does not exist.  Reality may be taking hold here.  Earnings can easily put a big damper on things.

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.