If you would like an email sent to you when I update the blog please send an email with "subscribe" in the subject line to traderbob58@gmail.com. To be removed use "unsubscribe".

Search This Blog or Web

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

?- 10/26/20

? 10/28/20

? 10/26/20

Short term

Dn 10/26/20

Dn 10/27/20

Dn 10/26/20


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 30, 2016

Daily update 8/30

More nothing.


There was no upside follow through from yesterday's bounce.  SPX closed slightly below the 20 SMA again.  The breadth was slightly negative.  New highs held in there at 163. 


The futures tested the 100 SMA again today and bounced.  Not much bounce yet though.  The bulls need to get going or we will fall below the 100.


The lines are right on top of each other.  The indecision continues.

SPX closing back below the 20 so fast shows a lack of buying enthusiasm at the moment.  Dip buyers are still active, but nobody wants to chase price higher.  Today was the 5th day out of 6 that we had the high in the morning and the low in the afternoon.  That is pullback type action only the damage to price is almost nothing.  Pretty odd.  If that pattern keeps up price will break down eventually.

Bob


No comments:

Important

The information in this blog is provided for educational purposes only and is not to be construed as investment advice.