Stock Market Analysis from Traderbob58: Daily update 6/18

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, June 18, 2019

Daily update 6/18

Bulls show up on cue.

The market gapped up and was helped when Trump tweeted about a meeting with Xi at the upcoming G20 summit about 10 minutes after the open. Breadth was +69%. New highs picked up to 231. New lows dropped back to 27. This was the heaviest volume in a while.

The futures popped above the recent high and held on all day.

The green count turned back up and recrossed 50.

It appears SPX is resuming the up move after a brief consolidation. I don't know what happens tomorrow with the FED meeting, but unless the selling pressure really picks up SPX should be on its way to test the highs.

Bob