If you would like an email sent to you when I update the blog please send an email with "subscribe" in the subject line to traderbob58@gmail.com. To be removed use "unsubscribe".

Search This Blog or Web

Trend table status






Up 7/31/20

Up 1/29/21

Up 5/29/20


Up 10/2/20

?+ 4/23/20

?+ 4/30/21


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, May 23, 2017

Daily update 5/23

Foiled again.

SPX tried a couple of times to cross 2400, but failed.  Breadth was +57%.  New highs came in at 146.  New lows increased a bit to 26.  Volume dropped considerably.

The futures stopped right at the upper channel line.  Will they roll over there?

Its a bit hard to see, but the red count actually increased today and crossed back above the green line.  Probably not a good thing when testing a high.

There still is no buying interest above 2400.  It might have been resistance long enough to become  self fulfilling now.  The low VIX and high valuation appears to be enough to keep the buyers sitting on their hands.  A pullback still seems likely to me.

The sub intermediate trend is flopping around which is indicative of a correction.  IWM is lagging badly which also indicates the market is not running on all cylinders.


No comments:


The information in this blog is provided for educational purposes only and is not to be construed as investment advice.