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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

Up 10/15/20

? 10/21/20

Up 10/13/20

Short term

? 10/19/20

? 10/19/20

? 10/19/20


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 (-)

Friday, September 22, 2017

Daily update 9/22 The Coming Bear Market?

Mixed day.


SPX rallied back to slightly positive after a gap down this morning.  Volume was light indicating there was no interest in selling into weakness.  Obviously we are not going to get any sizable pullback until people get interested in selling into weakness.  The trouble with markets is they can change their mind at any time.  Breadth was +60% as small caps led the way today.  New highs were up a bit to 146.  New lows were also up a bit to 17.



The futures closed under the 20 SMA in the overnight session.  Late this afternoon they rallied up over that MA, but sold off enough going into the close to end the day back below it.  That could be a bearish rejection at the 20, but I really don't like to ascribe too much meaning to action in the last hour.  I think we need to see what happens on Monday.  If we head south then it was bearish action.


The green count picked up a bit.  This could mean the bulls aren't finished yet. 

The Russell2000 was testing its highs today.  COMPX was showing relative weakness.  That could be a sign of some money moving out of FANG and into small cap stocks.  To me that would be money moving from one bubble to another, but what would I know.  SPX is still in sideways mode at the moment.  We await it deciding to break out or break down.  Maybe we get another attempt to reach my 2514 target. 

Interesting article from Dr. Shiller.  The Coming Bear Market?

I got another rejection by an ISP last night.  I have removed the email address from the list.  The problem is that I can't tell that person their ISP rejected my email.  If you are a subscriber and have been getting emails and they stop it is because of your ISP.  You can send me an email.  Maybe your ISP would let me reply to you.  I don't even know if that is possible.  If you send me an email and you don't hear back it is not because I am ignoring you.

Dinner is served.


Have a great week end.

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.