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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

?+ 9/25/20

Up 8/21/20

?+ 9/18/20

Sub-Intermediate

?- 9/15/20

Dn 9/11/20

Dn 9/21/20

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 (-)

Tuesday, November 27, 2018

Daily update 11/27

Strange day.


SPX rallied after a gap down and closed positive.  It closed the 11/20 gap down.  The breadth was actually -59%.  R2000 was -.87%.  New highs came in at 22.  New lows spiked up to 224.  Odd internals for a positive day.


The futures made it up near the upper channel line.  That could be resistance in the short term.


The red count increased today despite SPX being up. 

The internals suggest the positive day was caused by the biggest of the big cap stocks.  Not exactly an all clear sign.  I don't know if the market is trying to find a bottom or just bouncing from an oversold condition.  The bulls still have more work to do.  Market internals are still favoring the bears at the moment.  It looks like the bulls are trying to defend the Oct. lows.  It just isn't clear to me they will be successful.  The market needs to sort itself out here.

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.