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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 (-)

Monday, October 16, 2017

Daily update 10/16

Do you feel richer tonight?  SPX closed at a new high.  A whopping 5.5 points above the 10/5 high.  Its really flying up now.


Is there anything left to say?  Breadth was slightly negative.  New highs dropped a bit to 199.  New lows remain elevated at 26. 


The futures seem to be contained between the 20 SMA and the upper channel line.  Not much range there.


The green count remains below 50.


The short term pull pressure lines went negative today.  The intermediate and long term lines remain green.

This looks like the typical slow creep up pattern.  Short term market internals are weakening.  There is no telling how long it will last, but it usually ends with a big down day.  Big being relative to prevailing volatility.  We are currently experiencing all time low volatility so big probably won't be all that much.  With 7 point intraday ranges on SPX we could see a triple of volatility and still be within what we used to call normal volatility.  Still watching 2540 on the downside.

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.