• 4 hours What Is Africa’s Role In The New Silk Road?
  • 1 day Trump Was Right About The Dollar
  • 1 day Is Silver Gearing Up For A Rally?
  • 1 day World’s Largest Hedge Fund Turns Bullish On Gold
  • 1 day It’s Time To Spend More On Clean Energy R&D
  • 2 days Contrarian Investors Are Beating The Stock Market
  • 2 days Bulgaria’s Revenue Agency Falls Victim To Biggest Cyber Heist In History
  • 2 days Amazon Faces European Union Anti-Trust Probe
  • 2 days Commodities Are Having A Stellar Year
  • 3 days Bezos’ Next Big Project Could Be Worth $100 Billion Per Year
  • 3 days 3,600 Years Later, Climate Change Turns Mammoths Into $40M Market
  • 3 days Tesla, Apple Claim China Is Stealing Intellectual Property
  • 3 days EV Giants Duke It Out For Battery Dominance
  • 4 days Tech Billionaire Takes Aim At Google
  • 4 days Chinese Police Bust Largest Ever Illicit Crypto Mining Operation
  • 4 days Expect A Pullback Before Gold's Next Major Rally
  • 4 days Why Interest On Gold Matters
  • 5 days Ten Extravagant Food Items For The Wealthy Only
  • 5 days Why Saudi Arabia Won't Give Up On The Aramco IPO
  • 6 days $32 Million Crypto Heist Halts Tokyo Exchange
Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

  1. Home
  2. Markets
  3. Other

The State of the Trend

For the last month the focus was on two monthly charts: the SP500 and the QQQ. And the premise was that if the uptrend channel gets broken, a sizeable correction will follow.

QQQ

That's exactly what happened, and if history is any guide, the indices are in the beginning stage of a sizeable correction.

So far the SP500 has reached and rebounded from its initial downward target, which validates our analysis.

S&P500

There are many ways an upside target can be projected, but I'll stick to my favorite channel analysis and let the chart speak for itself:

SPX

 


Coming soon: a new iPhone app that will help anybody, from novice to seasoned trader, make better investment decisions. Keep an eye on Twitter@citdates.

 

Back to homepage

Leave a comment

Leave a comment