The State of the Trend

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

OddsTrader - combines the power of Hurst Channels with proper risk and position size management. For a web version see OT Signals below.

Gann 9 - 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).

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 - pairs trading, one of the most successful hedge fund trading strategies, is now available on your smart phone.

OT Pivots - combines the power of pivot lines with cycles to provide you with concise technical analysis and powerful trading signals.

OT Signals - a web app accessible from any browser, tablet or pc. It gives buy/sell/hold ratings for any instrument from around the world, and defines the trend and support/resistance levels.

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TRUE MONEY SUPPLY

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