Randy could you look at CLVS and give your thoughts as today even in the down market it looks as if something is brewing . I took a small position today.. Thanks

To add to my last reply to your question, I also did intend to say that the short-term trend was bearish. I am referring to the trend since the spike high on Tue March 3rd when the Fed rate cut was announced. Since then, the stock indices have been making a series of lower highs & lower lows, which is the definition of a downtrend.
I could also have said that the “micro-trend” or very short-term trend since Monday’s lows (in the stock futures) is bullish so its really just a matter of over what time period one is referring to when defining a trend. Good question though, as my definition of what time period a short-term trend is recognized on may differ from someone else’s.

By most metrics, the primary trend (long-term trend) on the stock market is still bullish although keep in mind that the longer-term an indicator is, the longer it takes to confirm that the primary trend has changed. As such, the roughly 19% drop so far could prove to just be a correction in an ongoing bull market will more room to run (eventually) or we may very well be in the early stages of a new bear market…. only time will tell.
During the Q4 ’18 correction, both QQQ & SPY fell more than 20% off their highs which would meet the commonly accepted definition of a bear market (drop of over 20%) yet a quick glance at a long-term chart going back a decade or more makes it pretty clear that was just a corrective period in an ongoing bull market that resumed after that correction ending on Dec 24, 2018.
I’ve covered some of the long-term trend indicators as well as uptrend lines off the late 2008-early 2009 lows which was the start of the current bull market with QQQ still above it’s primary uptrend line & key 20-month EMA, at least for now, while SPY is currently trading below the 20-month EMA but needs to print a monthly close (end of the month) below it to trigger a sell signal & we’ll also need QQQ to follow suit to confirm that long-term trend change signal (although that is only one of many & the more L/T sell signals that trigger, the lower the chance they will prove to be whipsaw signals).

Sure. Just posted the 60m charts of SPY & QQQ in the thread above in reply to @mSquare

No bother. As I mentioned in the post above, I posted the chart of the futures since the trendlines had a better ‘fit’ than the comparable TL’s on SPY & QQQ but here are the 60-min charts of both.