Monthly Trend Value 8 (trending up)
Weekly Trend Value -2 (trading range)
Daily Trend Value 1 (mixed)
45-min Trend Value 1 (trading range)
Turtle Trend (LT) 1 (mixed)
SPM Trend
..........Q......M.....W.....D.....45'
SPM....U......U......D.....D......D
Value..2......2......-1......-2......-1
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SHORT TERM TRENDS
Opening Range Trend
Daily--Neutral
Weekly--Neutral
Monthly--Down
Globex
45-min Trend Questionable
135-min Trend Questionable
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Keltner Band Trend
10-day Neutral
7-day Neutral
2-day Down
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Moving Average Trend
Mason-Dixon (NDX 200H) Up
Gator (SPX 13D+8) Up
Mallory (NYA 49D) Neutral
SB (SPX 75D) Neutral
Chandelier Trend
Zweig (MID5%) Up
Stox (NAZ9%) Up
Junk (ML1%) Up
---------------
Intermediate Momentum Indicators
NY ITBM Down
NY 10D NH% Down
ND 10D DEAD Down
ND BP RSI Down
NY Vol McSum Down
ND Vol McSum Up
Comments
Friday's spoos low was sprung.
The Weekly trend is in a Trading Range.
Key Reversal day.
Most momentum indicators have turned down.
Porter
Index Trends 4/26/04
Started by
Porter
, Apr 27 2004 06:41 AM
3 replies to this topic
#2
jmicou
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Posted 27 April 2004 - 07:01 AM
Would you mind further elaborating on your comments? How do you view the market at this juncture?
Thanks,
jmicou
#3
Porter
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- TT Member+
- 973 posts
Member
Posted 28 April 2004 - 05:43 AM
Would you mind further elaborating on your comments? How do you view the market at this juncture?
The Monthly trend is Up.
Therefore it is likely that this trading range will resolve to the upside.
But with the Weekly and Daily trends being Down, it seems likely to me that the April low at 1114/SPM will be tested before that happens.
If price slashes through 1114, then the Monthly trend will likely turn down, and the Cyclical bull is over.
I don't expect that to happen.
Porter
#4
jmicou
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Member
Posted 28 April 2004 - 01:39 PM
Thank you. I regard your opinion highly.
