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

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 (-)

Thursday, August 4, 2016

Daily update 8/4 Factory orders

Another sleepy day.


Most indexes barely moved today.  I guess many people are either on the beach or waiting until after tomorrow's employment report to make any moves.  The breadth was slightly positive.  New highs increased considerably to 173.  Price is still holding the 20 SMA.


The futures ran into resistance at the broken 20 SMA.  However, they did not roll over and continue the decline.  That should be a positive.


The red count rolled over today and is back below 50.  That suggests the bulls have stepped in and plan on taking the market higher. 

Unless overnight news causes problems I believe the bulls will try to test the highs.  The employment report could possibly shake things up.  I think last month's strength is unlikely to be repeated.  I don't know if an unusually weak report would be good or bad for stocks.  The bears still need to get SPX below 2147 to turn the short term trend down.

Orders for consumer durable goods were very bad again.



This is 18 months of negative YOY prints.  This streak is so long the YOY comparisons are already being compared against weak data and are still negative.  One has to wonder how the U.S. is not in recession.  Still no uptick.

Bob 

No comments:

Important

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