The State of the Trend

By: George Krum | Sat, Apr 6, 2013
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Let's pick-up right where we left off two weeks ago, and focus on intraday price action. SPY continues to trade within the Cyprus box, despite a short-lived breakout attempt on April 2nd. That box continues to define the bullish and bearish trigger levels going forward:

SPY continues to trade within the Cyprus box

While the intraday trend is flat, the daily, weekly and monthly SPX and DJIA trends remain up.

Despite breaking below the box at the open on Friday, the Qs managed to claw their way back in:

Despite breaking below the box at the open on Friday, the Qs managed to claw their way back in

Their future direction is closely linked to APPL which, at the moment, sits right on support:

Apple Chart

The intraday flat action in the major indices takes place in the context of a regular, cyclical downturn in market internals. At the current rate they should bottom in a day or two:

CIT Dates Chart

Try to keep that in mind if you find yourself getting overly bearish.



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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