The State of the Trend

By: George Krum | Sat, Jan 19, 2013
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The SPX daily is one percent away from its short-term target:

The DJIA is challenging its 2012 highs, and is 4% away from the '07 high:

The stick in the mud is the NDX, which is stuck in its box:

This is partly due to weakness in Apple. Despite all the excitement surrounding the Wednesday rebound, all it could muster is a consolidation below the recent lows. Further weakness will propel the stock down to $400:

The longevity of the January rally can be attributed to the fact that market internals never got overbought and managed to stay in neutral ground:

Now you can keep track of market internals for both the NYSE and NASDAQ live here during the trading day.

In summary, barring an unlikely change in monetary policy, the SPX continues to be on track to achieve its longer-term target:

 


 

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/