The State of the Trend

By: George Krum | Sat, Oct 1, 2011
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The obligatory end of month/quarter rally was able to muster only a lower high, and that spells continued trouble for the indices.

Of major concern is the fact that money flow is once again forming negative divergence with price:

Money Flow

The weekly chart points to downside targets similar to the ones outlined in last week's article using a different technique:

Adding to the worries is the fact that the Q's broke down out of their bear flag as well:

And the monthly picture looks equally uninspiring:

I'll conclude with the weekly channel chart which clearly shows the state of the trend for the SPX, and support/resistance levels for the weeks ahead:

In fact, this is the chart that served as a prototype for my OddsTrader app, which is available in the Apple store now. It delivers instant daily and weekly channel and trend analysis, in addition to several other financial statistics for any stock, index or mutual fund.

In other words, if you want to know if the odds are stacked in your favor, check OddsTrader now.



George Krum

Author: George Krum

George Krum

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).

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Source: The Contrarian Take