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Tuesday, March 22, 2016

Daily update 3/22

We have all this wonderful technology that makes life much easier than the old days.  However, days like today really make me glad I grew up when I did.

SPX lost a little altitude today.  Breadth was slightly negative.  SPX tested the 3/18 high both days this week, but was unable to close up there.  We have clear resistance here at least for the moment.  Volume was very light suggesting a lack of participation.  Once again many investors are sitting around waiting for somebody else to go first.  Still in the holding pattern.  Closing below the 3/18 low (2041) might spark some selling.  Not much else to say.  Just waiting to see what happens.

I would like to apologize for not keeping up with the trend table last week.  The COMPX resumed its short term uptrend on 3/16 and I failed to update the table.  In my defense the weather has been absolutely beautiful and I have been busy getting some outdoor work done.  That made me a little tired some nights when I sat down to write the update.  I realize that is not a good excuse, but its all I got.  Sorry.


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