If you would like an email sent to you when I update the blog please send an email with "subscribe" in the subject line to traderbob58@gmail.com. To be removed use "unsubscribe".

Search This Blog or Web

Trend table status






Up 7/31/20

Up 1/29/21

Up 5/29/20


Up 10/2/20

?+ 4/23/20

?+ 4/30/21


Up 3/29/21

? 4/5/21

?- 5/10/21

Short term

Up 4/1/21

Dn 5/10/21

Dn 5/4/21

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 (-)

Wednesday, November 11, 2015

Daily update 11/11

Thanks to all that have served and their families.  Your sacrifice to protect our freedom and way of life is very much appreciated.

The bulls tried today, but failed.

The market gapped up over yesterday's high and proceeded to sell off immediately.  After about 90 minutes of selling the bulls rallied SPX above yesterday's high once again.  The result was the same.  Nothing but sellers up there.  The buying helped the new high count rise to 63.  However, new lows were the highest since 10/2 at 115.  The sellers are getting more aggressive again.

While the futures tried hard to hold the 50 SMA they closed below it today.  We do not have a confirmed break yet, but that could always happen overnight.  The overnight bounce tested the underside of the 20 SMA and turned back.  That adds at least some confirmation of the down move.

The red count popped over 50 today.  The bears are increasing their grip.

It still looks like SPX wants to test that 200 DMA.  That is a chip shot from here.  Probably tomorrow if we have a down day which seems likely. 


No comments:


The information in this blog is provided for educational purposes only and is not to be construed as investment advice.