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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 8/14/20

Up 8/21/20

?+ 9/18/20

Sub-Intermediate

?- 9/15/20

Dn 9/11/20

?- 9/14/20

Short term

? 9/4/20

? 8/18/20

? 9/4/20


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, October 12, 2018

Daily update 10/12

Rebound.


While SPX was up 1.42% the breadth was only +53%.  That is very narrow for the size of the move.  Volume was good though.  New highs were 8 again.  New lows came in at 383.  SPX closed just barely above the 200 SMA.


The futures have stabilized at least.

Fortunately the market bounced today.  There was good buying late in the day, but SPX was unable to close above the open.  Things look setup to continue the bounce on Monday.  Given the technical damage that was done a retest of yesterday's low is likely at some point.


Have a great weekend.

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.