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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

Up 10/15/20

? 10/21/20

Up 10/13/20

Short term

? 10/19/20

? 10/19/20

? 10/19/20


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 (-)

Wednesday, January 27, 2016

Daily update 1/27 Davos quotes

The old different direction every other day routine.  Clearly consolidation.


That was a bit of a negative reaction to the FED announcement.  My how times have changed.  Used to be when central banks talked people bought stocks.  The breadth was -58%.  That was a strong reversal from the +66% reading we had mid day.  If the pattern repeats tomorrow will be up.  That would also be consistent with reversing whatever happens on FED day.  I suspect we still have a date with the 20 SMA before continuing down.  If tomorrow should be down then the bounce is probably over.


The futures took another stab at going below the 20 SMA, but found support again.  Although the bounce appears to be very weak it is still alive at the moment.

So far western markets have not noticed China crashed down below the Aug. low.  There is certainly a risk that we wake up one morning and see western investors have noticed.  The current bounce may not be over yet, but I don't see anything to indicate this is the start of a big move up.  It looks a lot more like consolidation at the lows in preparation for a break down.  As oversold as we were this pattern could easily last a few more days.  Be aware a really bad January usually leads to a negative February.  Barring a miracle rally this will go down as a bad January.

This is an interesting article.  36 WTF Quotes From The Davos Bubble Chamber  Some of the quotes are quite amusing.  Others are a little scary if the people actually believe what they said.  I guess stupidity knows no bounds even among the rich and famous.

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.