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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 (-)

Wednesday, May 3, 2017

Daily update 5/3

Equilibrium.


People bought the dip and sold the rally today.  Breadth was -58%.  New highs dropped way down to 116.   New lows increased to 51.  Another not good day for bulls.  A close below today's low will put SPX into a short term downtrend.


Curiously the last 3 bars closed less then 1 point from each other.  Each one closed below the 20 SMA as well.  No confirmation of a break yet though.


The red count crossed above the green today, but remains below 50. 


All three time frames in the bull pressure chart have negative crossovers.

This is the point when I say the bulls need to show up the next day or the market is going to go down and then the bulls show up.  Will the bulls pull off another stick save as they have done time and time again over the years?  A close by SPX below today's low says probably not.

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.