The S&P 500 (SPY) gapped below the 20-day Donchian price channel into bear phase, although it remains within the sideways channel that began Aug. 10.
The Nasdaq 100 (QQQ) has returned to neutral phase within a rising trend.
Crude oil (USO) dropped below the 20-day price channel into bear phase. The trend is a bit muddy; the price can be analyzed as opening at the bottom of a sideways trend that began Aug. 19, or one that began Aug. 9, or below a sidewinder that began Sept. 6. I’ve chosen to code it as sideways rather than bear, for now at least. A drop below $30.31 would be unambiguously bearish.
The U.S. dollar (UUP) went flying above the 20-day price channel into bull phase, and the trend turned bullish as well.
Indicator Exchange-Traded Fund Symbols:
EEM - emerging markets
GLD - gold
JNK - high-yield corporate bonds
QQQQ - Nasdaq 100 index
SPY - S&P 500 index
TLT - Treasury long-term bonds
USO - crude oil
UUP - U.S. dollar index
VIX - fear index
- phase: 20-day price channel phase, with green for bull trend, red for bear trend and yellow for neutral trend.
- trend: Price direction, green for higher highs and higher lows, red for lower highs and lower lows, yellow for neither.
- adx: Average directional index location, indicating the strength, or the temperature, of the trend. Orange for 40 or greater, aqua (light blue) for 25 and up but below 40, magenta (light purple) for 20 and up but below 25, and brown for anything below 20. (Mnemonic: Orange for the overhead sun, blue for the surrounding sky, magenta for sunset on the horizon and brown for the earth.)
- 200/50: The moving average cross, green for the 50-day ma above the 200, red for below and yellow for closely aligned.
- 40/10: The moving average cross, green for the 10-day ma above the 40, red for below and yellow for closely aligned.
About my trading methods
Read a detailed explanation of my analysis method, including trading rules.
Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.
No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.
The trader’s greatest sin is inaction. Sleeper, awake! Seize the Nietzchean moment. Roll out of bed and trade.
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