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Trend table status

Trend

SP-500

R2000

COMPX

Primary

Up 7/31/20

Up 1/29/21

Up 5/29/20

Intermediate

Up 10/2/20

?+ 4/23/20

?+ 4/30/21

Sub-Intermediate

Up 3/29/21

? 4/5/21

?- 5/10/21

Short term

Up 4/1/21

Dn 5/10/21

Dn 5/4/21


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 (-)

Monday, July 15, 2013

Daily update 7/15

That was a slow day.  Here is the daily SPX chart.


SPX is creeping up the underside of the lower red channel line.  The song remains the same.  Price is extended during a retest of a prior high.  Despite a new closing high SPX only got within about 2.5 points of the May intraday high.  Buyers may become a bit scarce here as people wait and let others go first.

There is a bit of a divergence in the numbers of new highs.  Here is the new highs chart.


This is showing a bit less conviction then we had before.  If we drop back under 200 again it would be a caution sign.  I would consider them dropping below 100 a serious warning. 

We are still in the process of testing the May high.  It still is not clear yet what the result of that test will be.  With price this extended a pullback or at least a pause seems likely in the near future.

Chart practice has been updated with TRIP the stock today.
http://traderbob58-chart-practice.blogspot.com/

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.