"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 14 hours The $85B Merger That Could Change The Media Forever
  • 15 hours Why Are Governments Creating Their Own Cryptocurrencies?
  • 16 hours How Debt Cycles Impact Gold
  • 17 hours Investors Up the Ante In $1.5B Uber Loan Deal
  • 19 hours Are Gold Miners Poised For A Breakout?
  • 21 hours Is The "Crypto Winter“ Over?
  • 23 hours China Says It Doesn’t Fear Trade War
  • 2 days Twitter CEO: The World Will Have A Single Currency
  • 2 days Asian Currency Correction Could Signal Looming Crisis
  • 2 days Best Buy Drops Telecom Giant Over National Security Threat
  • 2 days The Pros And Cons Of The Federal Interest Rate Hike
  • 2 days Good News For Gold Bulls Despite Interest Rate Hike
  • 2 days Trump Hits China With $50 Billion In Tariffs
  • 2 days Russian Gold Reserves Hit Record High Amid Rising Tensions With West
  • 2 days Stocks Pull Back Following Interest Rate Hike
  • 3 days Will Regulatory Rollbacks Make Banks 'Too Big To Fail?'
  • 3 days Elon Musk’s $2.6 Billion Tesla Challenge
  • 3 days Tech Giants Could Be First Victims Of U.S. Trade War
  • 3 days Dow Gains Despite Fed’s Rate Hike
  • 3 days The Biggest Threat To Chinese Oil Futures

The State of the Trend

The obligatory end of month/quarter rally was able to muster only a lower high, and that spells continued trouble for the indices.

Of major concern is the fact that money flow is once again forming negative divergence with price:

Money Flow

The weekly chart points to downside targets similar to the ones outlined in last week's article using a different technique:

Adding to the worries is the fact that the Q's broke down out of their bear flag as well:

And the monthly picture looks equally uninspiring:

I'll conclude with the weekly channel chart which clearly shows the state of the trend for the SPX, and support/resistance levels for the weeks ahead:

In fact, this is the chart that served as a prototype for my OddsTrader app, which is available in the Apple store now. It delivers instant daily and weekly channel and trend analysis, in addition to several other financial statistics for any stock, index or mutual fund.

In other words, if you want to know if the odds are stacked in your favor, check OddsTrader now.


Back to homepage

Leave a comment

Leave a comment

Sign Up For The Safehaven Newsletter