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The State of the Trend

By: George Krum | Saturday, January 19, 2013

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:

 

Author: George Krum

George Krum
www.citdates.blogspot.com

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).

Copyright © 2011-2014 George Krum