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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

?+ 9/25/20

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 (-)

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

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