The State of The Trend

By: George Krum | Sun, Mar 4, 2012
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The trends of the three main US indices (DJIA, NDX and SPX) remain up in all three time frames - daily, weekly and monthly. However, they failed to break above the resistance levels identified in our monthly charts. Furthermore, the strength in the technology sector was countered by weakness in the broader market, as represented by the Russel 2000, which broke below multi-week support levels:

This, combined with lackluster $ flow for the last several weeks, increases the chances that the expected pause/pullback may be imminent.

In which case, it is always helpful to have an idea of how far this pull-back may go.

For that we turn to our favorite weekly chart (courtesy of OddsTrader app), and the answer is around 1285:

 


 

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).

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