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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 (-)

Tuesday, August 23, 2016

Daily update 8/23 New SEC Money-Market Fund Rules Forcing a Liquidity Squeeze?

Test of 8/15 high.


The resistance from last week was not just Aug. option related it looks like.  SPX ran up to .4 of that high early on and turned back.  It made the low of the day in the afternoon which is not something we have been seeing much of over the last several weeks.  The breadth was +64%.  It was +79% at 10:00.  Even with all that strength resistance held.  New highs jumped up to 219, but that is nothing really to shout about at all time highs. 



The futures ran right up to their prior high early this morning and stopped.  They worked slowly but surely lower the rest of the day. 


The green count made no upside progress despite the up day.  Still in limbo here.

Last night I wrote "On 8/2 we had a dip that caused negative crossovers and the bulls responded with a little buying.  However, they failed to push price very far.  Now the internals are getting negative again, but we have not had much of a down move to bring in buyers."  The negative crossover sparked some buying.  However, as soon as SPX got close to its prior high the sellers squashed the rally.  I would guess this resistance will hold for now because we did not get a deep enough pullback yet. 

Some people say the new money market rules the SEC is implementing in Oct. are the reason the LIBOR rate is rising.  Certainly possible.  Here is a good article on the changes and possible consequences.  New SEC Money-Market Fund Rules Forcing a Liquidity Squeeze?

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.