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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 (-)

Thursday, September 7, 2017

Daily update 9/7 Consumer Credit & The American Conundrum

A lot of volume, but not a lot of movement.  The market is churning the last two days. 


It was an inside day for SPX.  That is odd considering yesterday was a pretty narrow range.  Breadth was dead neutral.  New highs increased a bit to 123 and are holding in there.  New lows increased a bit to 40 and are remaining elevated. 


The futures are clinging to the upper side of the 20 SMA.  Now that the MA has caught up to where we are the market will have to make a decision to launch or break soon.


The green count picked up a bit today and remains above 50.

Last night I thought the odds were pretty good SPX was going to at least test the current rally high.  I think I might have been a bit over bullish.  I think the odds are more like 50/50 now.  I think the bulls need to come out tomorrow and show a little more enthusiasm then they have the last two days.  Otherwise the rally is at risk of rolling over. 

Another good article on the U.S. consumer.  Consumer Credit & The American Conundrum

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.