The State of the Trend

By: George Krum | Sun, Aug 14, 2011
Print Email

For the last month the focus was on two monthly charts: the SP500 and the QQQ. And the premise was that if the uptrend channel gets broken, a sizeable correction will follow.

QQQ

That's exactly what happened, and if history is any guide, the indices are in the beginning stage of a sizeable correction.

So far the SP500 has reached and rebounded from its initial downward target, which validates our analysis.

S&P500

There are many ways an upside target can be projected, but I'll stick to my favorite channel analysis and let the chart speak for itself:

SPX

 


Coming soon: a new iPhone app that will help anybody, from novice to seasoned trader, make better investment decisions. Keep an eye on Twitter@citdates.

 


 

George Krum

Author: George Krum

George Krum
www.citdates.blogspot.com

George Krum is the author of the "CIT Dates" blog, and the following apps available from iTunes:

OddsTrader - uses the power of Hurst Channels to produce price and time targets, and combines them with proper risk and position size management.

OT Trend - helps you quantify and forecast the seemingly random ebb and flow of stock, index or mutual fund movement.

OT Fibonacci - automates the process of applying Fibonacci numbers, ratios and time series to any security.

OT Seasonal - allows you to perform seasonal analysis on practically any security from around the world and to build long-term forecasts and models.

OT Pairs - is the first mobile app that gives users access to one of the most profitable and time tested hedge fund trading strategies.

OT Pivots - combines the power of Pivot lines with cycles and automatic signal generation.

Gann 9 - is the only financial app that allows users to effortlessly apply the legendary W.D. Gann's tools and methods for trading (including the Square of 9).

Copyright © 2011-2014 George Krum

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com

SEARCH





TRUE MONEY SUPPLY

Source: The Contrarian Take http://blogs.forbes.com/michaelpollaro/
austrian-money-supply/