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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, December 19, 2016

Daily update 12/19 Fed’s Fantasy Vs. Reality 12-16-16

Ho ho ho, hum.


There was a little bit of buying and selling today, but not much movement.  Breadth ended at +59% after being +67% early in the day.  There appears to be some resistance in this area still.  However, volatility is contracting so we are getting to an equilibrium point.  New highs came in at 103 similar to the last few days.  New lows dropped down to 20 as bonds had a positive day. 


As you can see from the futures the volatility including overnight action is really quieting down.  The 20 SMA is holding at support, but has not provided a launch point yet.

The transports managed to close back above their prior high close (re-break out), but are below their prior intraday high.  The jury is still out on whether that break out will succeed or fail.  It seems like the bulls are just waiting to get their chance to run the Dow up to 20000.  Unless some kind of sell catalyst comes along that seems inevitable.  I guess we wait until it happens and see if there is any reaction to it.

There is some pretty interesting charts and data in this one.  Fed’s Fantasy Vs. Reality 12-16-16

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.