Stock Market Analysis from Traderbob58: Daily update 3/15

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 (-)

Friday, March 15, 2019

Daily update 3/15

Break out?

SPX closed above all the important highs since the correction began. However, it closed off its high and only 1 point above the Wed. high. Breadth was only +57% which is not much for an important break out. This not very convincing at the moment.

The futures closed at a rally high. They don't tell us much else though.

The green count crossed above 50, but just barely.

Today's break out was not very strong. The bulls will need to keep it going next week. Will they show up again? I want to see confirmation by a close above today's high.