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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

?- 9/14/20

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, May 21, 2015

Daily update 5/21 Carolyn Boroden's interesting video

SPX makes a new closing high.  We finally got a close above 2130.


You can't say the bulls aren't trying to take the market higher.  Unfortunately this looks like the slow creep pattern.  Breadth was +53%.  New highs actually dropped considerably from 123 to 86.  Anything less then 200 at new highs is shaky.  Under 100 is worse then pitiful.  So far this market looks more like it is suckering in the few last dollars out there rather then taking off for another run. 

 
The futures bounced off the 18 SMA in the night.  While they closed at a new high this is still a precarious looking chart. 

So far this week the market has followed the yearly pattern of up Monday and Thursday and down Tuesday and Wednesday.  If it continues to follow the pattern tomorrow should be down. 

A blog reader sent me a link to an interesting video from Carolyn Boroden.  $SPX updated   I happen to know that she had a very similar setup in Sept. 2000 before that bear market started raging.  I had just started trading full time that summer and I was participating in her chat room.  When she talks about time and price on monthly charts it might be good to pay attention.  Here is a chart from her video.


Interesting that we have 91 months between peaks.  We are also clearly struggling with resistance in this area.  As tired as this market is I think it is going to be tough to get through resistance.

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.