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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

? 1/4/21

? 1/4/21

?+ 1/4/21

Short term

? 12/11/20

? 1/4/21

Up 11/24/20


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 6, 2014

GLD and GDX 2/6

It has been a long time since I looked at gold.  When something has as severe a break as this they can be difficult to trade.  Lets start with the GLD daily chart.


It looks like GLD has come up to the down trend channel upper line.  Will it break above or be turned back again?  It seems like most of the time when something pushes on a trend line like this instead of being repelled quickly it ends up breaking through.  Maybe that will happen here.  How about a look at the GDX daily chart.


The mining stocks have already broken their down trend line.  Sometimes they lead gold, sometimes they don't.  They are currently consolidating like GLD.  I suspect they are waiting to see if GLD breaks out or not before deciding whether to continue up or not.

I don't know what is going to happen next.  However, it looks like something is about to happen.  These ETFs look like they are waiting for a catalyst to get them moving.  Whichever way that catalyst pushes them there is likely to be some follow through. 

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.