The State of the Trend

By: George Krum | Sun, Jul 7, 2013
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In case you were wondering what tune Ben is singing in the shower, here's a hint:

Oh, I get by with a little help from my friends,
Mmm I get high with a little help from my friends,
Oh, I'm gonna try with a little help from my friends.

It's nice to know that his little CB friends around the world went all in and pushed the talk about the end of QE to the back burner. This helped save the day, and the major indices are firmly above their 2007 highs, and the SPX is above our bullish pivot level:

SPX Chart

There's a minor speed bump ahead, best seen on the intraday SPY chart, which coincides with the gap zone created on May 20th, but once that level is overcome, the race to the old highs is on:

SPY Chart

In summary, the SPX continues to closely follow the seasonal pattern, and the risk of a deeper correction at this point in time is subsiding.

 


 

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.

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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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