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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

? 1/4/21

? 1/4/21

?+ 1/4/21

Short term

? 12/11/20

? 1/4/21

Up 11/24/20


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 (-)

Friday, October 21, 2016

Daily update 10/21

Pinned.  SPX lost .18 points.


The market opened up on the downside, but the buyers stepped in pretty quickly.  SPX rallied modestly through most of the day to get a little green before settling back to slightly red.  That keeps SPX below the 100 SMA.  The breadth was nearly even.  New highs were 73 while new lows increased a bit to 27. 


The futures tested the 20 SMA overnight and rebounded after the open.  They ended the day right at the resistance line. 



The green count got a slight positive cross today, but is well below 50.  This is still neutral.

The options that kept the market pinned this week have expired.  Early next week we should find out what the market really wants to do.  If the sellers still have work to do the market is in a good place for them to show up again.  With the down open the 10:10 sellers did not show up today.  Since they showed up yesterday there is still a pretty good chance they will return next week on any strength.  The bulls still need to get SPX back above the 50 DMA to make an attempt to take control back.

Have a great weekend all.

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.