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Trend table status

Trend

SP-500

R2000

COMPX

Primary

? 3/31/20

?- 3/31/20

? 3/31/20

Intermediate

Dn 4/3/20

Dn 3/20/20

? 5/8/20

Sub-Intermediate

Up 4/20/20

Up 4/22/20

Up 4/17/20

Short term

Up 5/20/20

Up 5/20/20

Up 5/20/20


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, February 5, 2019

Daily update 2/5

Almost there!


SPX closed four points below the 200 SMA.  Volume was light again.  There was a bit of selling mid day, but dip buyers rushed in to snap up the bargains.  Breadth was +60%.  New highs picked up a bit to 98.  New lows remained low.


The futures remain above the upper channel line.  Creeping higher.

The market is ignoring any bad news.  Don't mistake that for a lack of bad news.  The global economic data is still poor and getting worse.  Currently it does not matter.  However, the market is famous for flip flopping on a dime.  Some day it might matter again.  There really is nothing more to say until the market stops going up.

Bob

1 comment:

Unknown said...

Perfect knowledge for trading in share market keeps it up. Live commodity tips

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