The State of the Trend

By: George Krum | Sat, Jul 28, 2012
Print Email

Kudos to signor Draghi who single handedly sparked a market rally of Olympic proportions. As a result, the SPX remained firmly within the uptrend channel, and reached a preliminary resistance level:

Although market momentum has reached its limits:

market breadth hasn't reached overbought levels yet, suggesting that one more push higher, to coincide with month end window dressing, cannot be excluded:

And since we started this article with a reference to Europe, here's my take on what's going on there. In my view, the Union is going through its own "perestroika" (remember that term?), aimed at keeping the status quo intact. Since the EU is not the Soviet Union, maybe, just maybe, they have a chance at succeeding. If not, however, the end will be very similar. When the parties involved realize that the political/monetary break-up is inevitable, it will happen very quickly, within a matter of weeks. It will, probably, be followed by years of pain and hardship for the masses, but it will not be the end of the world, and a new political/economic entity/ies will emerge.

On that happy and positive note, it's time to enjoy the summer, and let the Games begin!

 


 

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.

Copyright © 2011-2014 George Krum

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com

SEARCH





TRUE MONEY SUPPLY

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