Stock Market Analysis from Traderbob58: Daily update 4/4

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 (-)

Thursday, April 4, 2019

Daily update 4/4

Sleepy day.

Another pause day just above the Jan. 2018 high. Maybe they are waiting for the employment report tomorrow. Breadth was +61% as there was some strength in small cap stocks. New highs dropped way down to 90. That seems like a big tumble for a day like today. New lows were stable at 10.

The futures are trading sideways. Are they building a base or a top?

There was bursts of buying and selling today. Neither side wanting to move the market very far. I think I would have to say the market was churning. If that were to continue in the days ahead it would be indicative of a top. This close to earning season investors may be content to wait and see what happens before deciding whether to buy more or do some selling.

Bob