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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 (-)

Thursday, March 16, 2017

Daily update 3/16 The Corporate Bond Market: The Start of the Matter

No follow through from yesterday's buying panic.


Volume dropped considerably today.  That  means there was a lack of buying enthusiasm rather then a lot of selling pressure.  Breadth was slightly positive.  New highs remained near yesterday's number at 165.  New lows dropped way down to 13.


The futures tried to break out of the channel, but fell back in.  Since we did not get a clear break out and failure they won't necessarily drop back to the lower channel.


The green count slipped considerably today.  The bulls had a chance to seize the day, but decided not to.


The short term bull pressure lines are positive, but not by much.  The intermediate lines are still negative.  That last pullback did some technical damage and it remains to be seen if the bulls will rekindle their buying enthusiasm or not.  The long term lines are still positive, but the green line is not particularly strong with SPX sitting this close to the high.

There was clearly a lack of desire by the bulls today.  What caused that is hard to say.  It could be option related which should not last.  However, it could be oil related (or some other reason like valuation) which could persist.  I think we need to let the market sort itself it put and see what develops.

R2000 turned its short term trend sideways today.

Some interesting comments on the corporate bond market.
The Corporate Bond Market: The Start of the Matter

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.