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Trend table status






Up 7/31/20

Up 1/29/21

Up 5/29/20


Up 10/2/20

?+ 4/23/20

?+ 4/30/21


Up 3/29/21

? 4/5/21

?- 5/10/21

Short term

Up 4/1/21

Dn 5/10/21

Dn 5/4/21

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 (-)

Wednesday, June 12, 2019

Daily update 6/12

A little more profit taking.

Volume dropped way off today.  Not all that much profit taking so far.  Breadth was -51%.  New highs were 114.  New lows picked up to 79 which seems a bit high.  The low today was just above the 50 SMA. 

The 20 SMA is rapidly coming up to meat price.  In another day it should be getting pretty close if the pause continues.

The green count is back out of overbought.

So far this appears to be just a pause before going higher.  There is very little profit taking from the big move up last week.  Bad economic news is good for hopes of a rate cut.  The idea of a cut seems to have taken away the worry about not having a trade deal with China.  Until we see some real selling pressure there is not much to do but buy the dips.  SPX looks like it wants to test the highs.


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