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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 (-)

Friday, August 12, 2016

Daily update 8/12 Insana: Bubble boys got it wrong

Another sleepy day.
 

 I can barely see the volume bar.  I guess everybody is on the beach and/or watching the Olympics.  At least the Olympics have provided some excitement.  That is a lot more then I can say for this market.  Even some of the hosts on CNBC are starting to sound a little bored.  The breadth was slightly negative.  New highs dropped down to 160.  Not much enthusiasm right now.


The futures have gone sideways enough for the 20 SMA to catch up.  Ordinarily I would say that might cause a launch higher.  However, the last time we were in this condition the futures just traded sideways on top of the MA for a while.  Until that MA breaks there is not much to talk about on the downside.


The green count dropped a bit today so it remains below 50.  Not much new here.

Not much to say.  Somebody wake me up when the market actually does something important.

Wow.  A public flogging.  Ron Insana was on CNBC talking about the group of billionaires that are saying we are in a bubble.  Insana: Bubble boys got it wrong  I have seen this movie before.  In 2000 there were a few smart people saying stocks were in a bubble.  They were made fun of in a very similar fashion.  The same with the housing bubble in 2006.  Of course all the people that said those were not bubbles  now admit they were.  This will be the same.  Ron Insana going on TV and saying what he said is a perfect example of the complacency in the market place.  He is absolutely sure the market is only going to go up from here or he would not have done that segment.

The fact that we are in a bubble is clear.  The only unknown is when it will pop.  That segment on CNBC makes me wonder if the end might not be all that far off.  Time will tell.

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.