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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

?+ 9/25/20

Up 8/21/20

?+ 9/18/20

Sub-Intermediate

?- 9/15/20

Dn 9/11/20

Dn 9/21/20

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, July 23, 2015

Daily updatre 7/23

Transports got smacked again.  Most of the rest of the indexes were only down a little.


SPX closed right at the 50 SMA.  However, that MA has not been in play much the last few years.  We are still above the 20, but with the 20 below the 50 that is not much of a bullish statement.  The breadth was -66%.  The new highs were 95 which was a little better then yesterday.  The lows came in very high again at 325.  Volume was slightly less then yesterday, but above most days the last few months.  The breadth and the volume indicate the selling was significant.


The futures found support at the 200 SMA.  This might be a good place to bounce from.  If not, the 50 and 100 SMAs are just a little further down.  At this point I believe any bounce would be to a lower high.

R2000 entered into a short term downtrend today and SPX went neutral.  The COMPX is still hanging on to its short term uptrend.  After three down days on SPX a bounce day tomorrow would not be surprising.  However, the news flow could easily keep pressure on the market.  I think there has been enough damage that we have turned down and it is just a matter of time before SPX turns its short term trend down.

I posted some thoughts on Japan to the 40k/IRA blog.  http://traderbob58-401k-ira.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.