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

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 (-)

Wednesday, February 24, 2016

Daily update 2/24 Debt vs growth

The bulls came out to buy the dip.


SPX tested down to the 20 SMA and our support line early this morning.  However, selling pressure dried up and the dip buyers came out in force when oil rallied after the inventory data.  Oil up stocks up.  The breadth was +60% so there was broad participation in the bounce.  New highs are still low at 44, but up a tad.  New lows also picked up a bit to 71.


The futures made it all the way down to the lower Keltner channel early this morning before launching hard to the upside.  This keeps the bulls in control.


Today put a whack on the green count.  It is down out of the overbought range, but still above 50.  Internals are confirming price that the bulls are still in control

The bulls kept the dream alive of reaching SPX's 50 DMA.  The 50 has come down to the 2/22 high so theoretically SPX could actually hit it without making a new high for this rally.  I would think that should make it easier to achieve. 

Today probably made a few more skeptics into believers of the rally.  That is how bear market rallies work.  Suck em in then bury them.  Lets see how far the bulls are willing to push it.

This is a very good article on why growth is so slow.  It does a better job explaining the situation then I ever could.  Debt vs Growth: Correlation or Causation

Bob

No comments:

Important

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