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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

Dn 9/21/20

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 (-)

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

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