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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, January 9, 2017

Daily update 1/9

Pretty bland day.  The NASDAQ saw a bit of buying.


SPX came back into the trading range as Friday's break out failed immediately.  That probably increased the risk of breaking out the bottom again.  Breadth was a fairly broad based -62%.  New highs dropped way down to 68.  Momentum is waning.  No wonder with the VIX under 12.


The futures are showing a potential double top, but mostly a consolidation.


The green count remains below 50.  Not a lot of excitement here.

During most of the last few years most bottoms have been in the shape of a V and most tops have been sideways patterns that broke down instead of up.  These tops always seem to coincide with a VIX around 12 or lower.  This looks like it could be forming another one of those tops.  With earnings coming up anything can happen.


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.