The State of the Trend

By: George Krum | Sat, Aug 11, 2012
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A little more than a month ago we noticed the similarities between the current nascent rally and the November '11 - April '12 bull run. After a shaky start, the upswing is gaining momentum, and now is a good time to update the chart and revisit some upside targets:

There are a few things that stand out from this chart.

The more optimistic target, should the analogy be complete, is 1530 by the end of 2012. However, thus far the current rally is following a less aggressive growth path, which places the upward target within the 1430 - 1490 zone.

From a medium-term timing perspective, September 4th looms as the next hurdle.

From a very short term perspective, the importance of the 1395 support level can not be overstated. A break below opens the door for a retest of the lower channel at 1360, which also happens to coincide with Hurst Channel support:

Hurst Channel support



George Krum

Author: George Krum

George Krum

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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