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

Up 10/9/20

Up 10/13/20

Short term

Up 10/5/20

Up 10/1/20

Up 9/30/20


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 (-)

Wednesday, September 7, 2016

Daily update 9/7

Are many people still on vacation?


SPX tested yesterday's high early in the morning then sold off until about 12:30.  The market bounced in the afternoon, but remained below the morning high.  Once again we made a morning high and an afternoon low.  Breadth was pretty strong at +60% for a flat SPX.  People are buying small caps since the R2000 is still below its prior highs.  New highs were pretty good at 232. 


Not much action after yesterday afternoon's mini thrust bar.  People are willing to buy little teeny tiny dips, but may still be shy about pushing price into new high ground.


The green count turned down a bit today and dropped back under 50.  Not exactly the sign of a launch higher. 

Resistance held again today.  If this is a launch to new highs and beyond it is not starting out in the normal fashion.  It may take some really positive news event to make that happen.  Lets see if the bulls are in a better buying mood tomorrow.

Bob

No comments:

Important

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