Stock Market Analysis from Traderbob58: Update 4/1

Trend table status

Trend	SP-500	R2000	COMPX
Primary	? 3/31/20	?- 3/31/20	Up 5/29/20
Intermediate	?- 5/29/20	?- 5/29/20	?+ 5/29/20
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 (-)

Wednesday, April 1, 2020

Update 4/1

The bears came out to play again today. There was a fresh tick distribution signal.

SPX appears to have been rejected at the 20 SMA yesterday with downside follow through today. Breadth was -92%. That could be enough to kick start a move to retest the low.

The futures show a double top pattern and are currently testing the low in the middle. The bulls still have a chance to rally the market here, but I think they must show up tomorrow in force.

The virus case news is only going to get worse for the next few weeks according to the experts. The economic data is clearly going to get worse. The only good news I can see for the market would be related to treatment of the virus. I have no idea how to analyze that. Does the market have a clue how to analyze that? The bulls need to prove they area willing to step up and buy or the market is headed lower. We will see if they are up for the task tomorrow or not.

Peace and good health to all. Stay home and stay safe.

Bob