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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 10/2/20

Up 8/21/20

Up 10/9/20

Sub-Intermediate

Up 11/10/20

Up 11/4/20

Up 11/9/20

Short term

? 11/18/20

Up 11/5/20

? 11/18/20


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, May 14, 2013

Daily update 5/14

Still finding rally chasers.  Here is the daily SPX chart.


SPX got clearly above the new channel I drew.  I changed my original channel lines to red to make them easier to see.  We did not quite get above that channel line.  On the last pullback it went so far out the bottom I thought it was forming a new channel.  Maybe not.  Since it got out the bottom, it might get out the top this week.  Volume was up today, but still does not look like a buying climax like we had last Sept.  The story remains the same.  Price is extended and high risk to add new longs.  That is not stopping people from doing it, but that does not make the risk any lower.

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.