Monthly Trend Value 12 (running uptrend)
Weekly Trend Value 12 (running uptrend)
Daily Trend Value 11 (running uptrend)
45-min Trend Value 6 (weakly trending up)
Turtle Trend (LT) 4 (running uptrend)
SPH Trend
..........Q......M.....W.....D.....45'
SPH....U......U......U.....U......U
Value..3......3......3...... 2.....0
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SHORT TERM TRENDS
Opening Range Trend
Daily--Down
Weekly--Up
Globex
45-min Trend Questionable
135-min Trend Questionable
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Bollinger Band Trend
10-day Up
7-day Up
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Moving Average Trend
Mason-Dixon (NDX 200H) Up
Gator (SPX 13D+8) Up
Mallory (NYA 4 Up
SB (SPX 75D) Up
Chandelier Trend
Zweig (MID5%) Up
Stox (NAZ9%) Up
Junk (ML1%) Up
---------------
Intermediate Momentum Indicators
NY ITBM Up
NY 10D NH% Up
ND 10D DEAD Up
ND BP RSI Up
NY Vol McSum Up
ND Vol McSum Up
Comments
The Compx made a new rally high.
The MID made a record high.
The Merrill Lynch High Yield Corporate Bond index made a record high.
Overbought conditions were worked off.
The 45-min trend in the spoos is in question.
Price may spring the Friday morning low or may continue down to turn the trend down.
Porter
Index Trends 1/9/04
Started by
Porter
, Jan 09 2004 10:26 PM
1 reply to this topic
#1
Posted 09 January 2004 - 10:26 PM
#2
Posted 11 January 2004 - 11:26 PM
The Globex 45-min trend for the spoos turned down.
The Globex 135-min trend for the spoos will likely turn down soon.
While these are short term trends going against the longer term uptrends, I think they should be respected until there is some evidence that they might weaken.
The first thing to look for is whether the spoos can rise above the Friday morning low of 1121.5/SPH in the first 45minutes or above 1/8 low of 1123.8/SPH in the first 135 minutes of RTH trading.
If it cannot do either, the bears are in short term control.
Porter