The State of the Trend

By: George Krum | Sun, Sep 30, 2012
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Last week we mentioned the importance of the 1450 level, and that a break below would signal a short-term trend reversal. That level was broken on Tuesday, and later acted as resistance on Thursday. Therefore, we'll continue to keep a close eye on 1450 next week as well:

The weekly support zone comes at 1423-1430, which includes a Gann Square of 9 cardinal number, a 25% retracement of the recent daily range, and the lows following the September 6th QE III anticipation breakout.

Market internals are showing signs of bottoming out, but this needs to be confirmed by price action:

For the time being, the SP500 is following closely the seasonality of the Election Year cycle, which points to a down/sideways move until the end of October:



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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