These charts look like they are trying to make a higher level double bottom on the daily. Check out the charts.
If they succeed a test of the high should be in the works. The risk reward looks pretty good here.
Bob
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 1/20/21 | Up 1/7/21 | Up 1/19/21 |
Short term | Up 12/28/20 | Up 1/6/21 | Up 12/22/20 |
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 (-)

Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment