If you would like an email sent to you when I update the blog please send an email with "subscribe" in the subject line to traderbob58@gmail.com. To be removed use "unsubscribe".

Search This Blog or Web

Trend table status

Trend

SP-500

R2000

COMPX

Primary

?+ 6/30/20

?- 3/31/20

Up 5/29/20

Intermediate

? 6/5/20

? 6/5/20

Up 6/5/20

Sub-Intermediate

?+ 7/6/20

?- 7/7/20

Up 7/2/20

Short term

Up 7/6/20

? 6/11/20

Up 7/2/20


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, December 7, 2018

Daily update 12/7 SPY option data

The gap up was sold fairly quickly and pretty hard.


SPX closed fractionally above the 11/23 low close of the current sell off.  Breadth was -67%.  New highs were 40.  New lows dropped down to 248.  That is an interesting divergence.  Volume was considerably less then yesterday.  A retest of the retest.


The futures held just above yesterday's low.  Will all these lows hold or be broken?


The red count jumped up to oversold levels. 

Here is a look at the SPY option data.


There is some support at 265.  Much stronger support at 260.  The 255 level shows very modest support.  The only strike with call resistance nearby is 275.

Here we are at the lows again.  What happens now?  I wish I knew.  SPX got within 2 points of yesterday's low.  There were enough buyers to keep it from breaking down.   That keeps the door open for a rebound, but will the bulls step through that door.  I guess we will find out on Monday.


Have a great weekend.  Remember the reason for the season!

Bob

1 comment:

Sonal Jain said...

Nice Blog..One can get good information about stock market & Trading tips.Thanks ..intraday Stock Tips

Important

The information in this blog is provided for educational purposes only and is not to be construed as investment advice.