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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 (-)

Monday, February 4, 2019

Daily update 2/4 Mixed Market Messages

Lack of sellers around today.


SPX closed above its 100 SMA and is just 17 points away from the 200 SMA.  The 200 could act like a magnet or cause buyers to become hesitant.  Breadth was +64%.  New highs dropped to 63 after recently peeking at 124.  That seems like quite a sizable drop with the market moving higher.  New lows remain low at 5.


The futures remain above the upper channel line.  They keep on chugging higher.


The green count dropped a bit today, but remains above 50.  This could mean the rally is thinning out a little.

SPX is within a stones throw of the 200 DMA now.  The market rose on a clear lack of sellers today.  Are the sellers waiting for the 200 to be hit?  The move has lasted long enough for plenty of short term traders to get on board.  At some point they will take some profits.  Until they do there is not much to talk about.  We will have to wait and see how far the bulls are able to push it. 

Interesting article on several fundamental issues.  Mixed Market Messages

Bob

1 comment:

Unknown said...

It's a nice recommendation for the stock market. Live commodity tips

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