If you would like an email sent to you when I update the blog please send an email with "subscribe" in the subject line to traderbob58@gmail.com. To be removed use "unsubscribe".

Search This Blog or Web

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 (-)

Wednesday, June 5, 2019

Daily update 6/5

Upside follow through sort of.


SPX gapped up and sold off enough to close the gap before buyers showed up.  Breadth was barely positive.  Downside volume was heavier than upside volume.  The SOX and XOI indexes were down noticeably and R2000 was down somewhat.  It was a rotational day rather than broad market strength.


The futures ran into the 50 SMA and stopped for the moment.  They are currently down a few points from the 4 PM close.  There is still a ways to go to get back to the 200 SMA.


The green count crossed 50 and is approaching overbought levels.

The internals today were weak compared to the amount SPX was up.  I think the bulls need to see another up day on strong internals.  Until that happens this bounce could still turn out to be a dead cat.  The bulls have a chance to take control, but the power is still up for grabs at the moment.

Bob

1 comment:

Unknown said...

This is the best recommendation for working in share market tips
Free share market tips

Important

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