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

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

?- 10/29/20

? 10/28/20

?- 10/30/20

Short term

Dn 10/26/20

Dn 10/27/20

Dn 10/26/20


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 (-)

Wednesday, September 20, 2017

Daily update 9/20

The FED announcement was pretty much a non event for stocks.  However, volatility showed up in the dollar and gold.  They even moved the way one would expect them to move.  How odd is that!


SPX had a 12 point intraday range which is big by recent standards.  However, that was pretty small for a day the FED actually did something.  At the end of the day SPX was slightly positive.  Breadth was +52%.  New highs were up a bit to 188.  New lows were stable at 17.  This looked like a typical slow creep up day with internals to match.  This pattern is prone to a sharp reversal.


The futures dipped down to the 20 SMA after the announcement, but found support.  They are still below the upper channel line so we are still in consolidation mode.


The green count slipped a little bit more. 

The slow creep up pattern is becoming clear in SPX now that internals are matching.  The market is looking a little tired.  We could see a sharp down day any time now.  That is usually how the slow creep pattern ends. However, the pattern can last for several days.  A fall correction still looks possible.  I guess we will see if it happens.

Bob


No comments:

Important

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