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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 (-)

Tuesday, January 10, 2017

Daily update 1/10

Small cap stocks were in demand today.


The bulls did some buying early on and pushed SPX up and outside the trading range, but the sellers showed up once again.  Breadth was a strong +61%.  New highs increased a bit to 92, but were still low.  There is clearly resistance in this area.


The potential double top is still in play.  The futures ended the day just above the 20 SMA.  Will they launch or break?


The green count almost got up to 50.  That is the highest it has been in a while.  Will the bulls show up again or will the bears strike back?

The trading range continues along with the low VIX.  Status quo for now.

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.