The State of the Trend

By: George Krum | Sun, Nov 11, 2012
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Market breadth peaked on November 6th the day of the US Presidential elections:

And the indices have been in decline ever since, reaching our target of 1377 by the end of the week:

The market breadth cycle continues to closely follow the dominant cycle, and the next upswing is expected to begin shortly, which will help stem the decline. We also continue to monitor the similarities with the April-May consolidation and subsequent decline, and keep an eye on the Election Year cycle:

In summary, the daily and weekly trends are down, but a sideways/up phase is expected to commence shortly. The first resistance level to the upside is 1391. The next cluster of support comes at the 1341 - 1355 level.



George Krum

Author: George Krum

George Krum

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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Source: The Contrarian Take