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Trend table status

Trend

SP-500

R2000

COMPX

Primary

Up 7/31/20

Up 1/29/21

Up 5/29/20

Intermediate

Up 10/2/20

?+ 4/23/20

?+ 4/30/21

Sub-Intermediate

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 (-)

Monday, August 29, 2016

Daily update 8/29

Buying panic on the open lasted all of 10 minutes.  The rest of the day was a slow grind up until mid afternoon then a slow grind down. 


SPX bounced enough to get back above the upper yellow line and the 20 SMA.  This is probably the bounce that was interrupted by the Fischer comments on Friday.  You have to squint to see the volume bar.  The breadth was +68%.  New highs slipped a bit to 169.  The market got a little mixed up today.  The financials rallied strongly on the prospect of higher rates.  However, interest rates collapsed calling the FED's bluff on a rate hike.  I guess the bond market thinks like I do.  The FED is nothing but talk on a rate hike in Sept.  Now everybody will be watching Friday's employment data for a final clue before the next FED meeting. 


The futures bounced off the 100 SMA.  I have no idea how long the bounce lasts though.


The green line crossed above once again.  The braided look continues as does the consolidation. 

All the gain in SPX since the middle of July came on the Aug. employment data.  It is certainly possible we continue to chop around until Friday.  Looking like a great time to be at the beach.

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.