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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, July 20, 2016

Daily update 7/20

Slight new high close.

SPX rallied above the last few days resistance by 11:30, then traded sideways all afternoon.  Breadth was strong again at +63%.  More nibbling of stocks.  New highs increased considerably to 193.  How far can the rubber band stretch?

The futures tested the 7/14 overnight high today.  That is where they came to a stop.  On occasion the overnight extremes can provide strong support or resistance.  It remains to be seen if this extreme point will be stiff resistance or not.

The green count slipped again today despite the upward move in the index.  Upward momentum is waning some.  That does not mean we can't go higher though. 

Buyers keep showing up so far.  Maybe the futures have hit a resistance point, but maybe they haven't.  Lets see how far the bulls are willing to push it.


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