The State of the Trend

By: George Krum | Sat, Mar 17, 2012
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Just like last week and the weeks before, the trends of the three main US indices (DJIA, NDX and SPX) remain up in all three time frames - daily, weekly and monthly. This week, however, brought the long awaited breakout above monthly and weekly resistance, and we'll focus on the next likely targets.

For the weekly SPX our weekly target is 1450:

SPX Weekly

While for the Q's our target is 70:

QQQ Weekly

As usual, we continue to keep a close eye on the trend indicator and pivot line (courtesy of OddsTrader apps) for signs of trouble ahead.

The important levels to watch are 1395 for daily SPX:

SPX Daily

and 1370 for the weekly:

SPX Eekly

 


 

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