The State of the Trend

By: George Krum | Wed, Nov 23, 2011
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The pre-market gap down on Monday gave a strong indication that the congestion phase has ended, and a new multi-week downswing is beginning.

In the process, the SP500 closed within a couple of points of the 1164 support level identified last week-end by OddsTrader app. The new targets are 1140 and 1125, while the pivot line is at 1205.

Judging by the attached chart, the down leg could last until the end of December:

S&P Weekly Chart
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As one would expect, this is accompanied by further deterioration in bullish sentiment, with plenty of room to go to the downside:

SP500 vs Intensity
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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

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