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Trend table status






Up 7/31/20

Up 1/29/21

Up 5/29/20


Up 10/2/20

?+ 4/23/20

?+ 4/30/21


Up 3/29/21

? 4/5/21

?- 5/10/21

Short term

Up 4/1/21

Dn 5/10/21

Dn 5/4/21

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, December 20, 2018

Daily update 12/20 Greetings From Stiltsville : Deficit Spending is not a Free Lunch

SPX confirmed its break of the Feb. low by closing below yesterday's low. 

Heavy volume once again.  However, late in the day there was yet another V bottom bounce.  Breadth was -79%.  New highs were 4.  New lows spiked up to 1225.  Oversold got more oversold.  Common thing to do in a bear market.

The futures bounced 20 points after the close.  I have no idea what that is about.  They are still stretched to the downside.

This is a really, really oversold market. 

The VIX popped over 30 today and the buyers stepped in.  I do not like today's candlestick for a long lasting low as there is yet another V bottom.  However, that does not preclude a bounce from here.  I view this situation as a confirmed bull market top.  A bounce from here that carries above the Feb. low does not change that.  I think there will be a ton of overhead resistance up there.  The market has to bounce sometime.  With the VIX hitting 30 today maybe the dip buyers will be a little braver this time.  If the futures are still up in the morning maybe the rally will stick.

Good article on pumping up GDP.  Greetings From Stiltsville : Deficit Spending is not a Free Lunch


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