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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

?- 10/26/20

? 10/28/20

? 10/26/20

Short term

Dn 10/26/20

Dn 10/27/20

Dn 10/26/20


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 (-)

Friday, September 18, 2015

Daily update 9/18 Michigan University stock market sentiment

Downside follow through.


There is some volume for you.  Breadth was -68%  so selling was broad based.  New lows increased to 110.  The TRIN closed over 3 so there was a bit of panic in the air.  SPX closed in the area of the uptrend line.  With TRIN so high a bounce on Monday morning would not be surprising.


The futures came to a stop on the 50 SMA.  Possible support there.  Neither of the indicators have negative crosses yet.  No confirmation here the market is rolling over yet.

It is possible a good bit of selling today was related to options.  All those puts at the 200 strike were underwater this morning.  That can cause some delta hedge selling.  While it is possible the market is rolling over to retest the low I don't have anything I can point to that indicates that is the case.  The bears need another down day.  With the high TRIN that might not happen.  Lets see if the bulls show up on Monday to take advantage of bargain prices.

I have never seen the Michigan sentiment stock market question in a chart like this.


Given what has happened since June and what happened after June 2007 this is an interesting chart.  This is one view of sentiment worthy of a bull market top. 

The market status and sector pages have been updated.  Have a great weekend.

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.