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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 11/10/20

Up 11/4/20

Up 11/9/20

Short term

? 11/18/20

Up 11/5/20

? 11/18/20


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 (-)

Wednesday, February 27, 2019

Daily update 2/27

Dip buyers to the rescue.


The market started with a little bit of a gap down, but the buy the dip crowd showed up.  There was a little selling to a lower low caused by some comments out of D.C. mid morning, but the buyers showed up again.  Breadth was dead even.  New highs were up a bit to 94.  New lows were up quite a bit to 20.


The futures tested below the 20 SMA, but bounced back.  Until we get a confirmed break of that MA the bears do not have anything to talk about.


The red count is rising a bit, but is still below the green line.  It is the highest it has been on this rally though. 

Sell programs hit the market once in a while, but there is no real concerted effort on the part of the sellers.  Until something changes I will have a hard time finding things to write about.

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.