• 287 days Will The ECB Continue To Hike Rates?
  • 288 days Forbes: Aramco Remains Largest Company In The Middle East
  • 289 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 689 days Could Crypto Overtake Traditional Investment?
  • 694 days Americans Still Quitting Jobs At Record Pace
  • 696 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 699 days Is The Dollar Too Strong?
  • 699 days Big Tech Disappoints Investors on Earnings Calls
  • 700 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 702 days China Is Quietly Trying To Distance Itself From Russia
  • 702 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 706 days Crypto Investors Won Big In 2021
  • 706 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 707 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 709 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 710 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 713 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 714 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 714 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 716 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

The State of the Trend

Last week we pointed out that weak seasonals and the FOMC meeting may cause the market to move in opposite directions. The indices surged ahead of the FOMC meeting and sold off afterwards.

The duration and the size of the moves in both directions were well within the norm for the average swing cycle and size for the last 6 months, as measured by OddsTrader:

After peaking on Dec. 12th market breadth is deteriorating and, at the current rate, is likely to bottom out mid-week:

As long as the SPX stays above 1400, bulls can hope that it is embarking on a more sustainable trend, similar to that of the December '11 - March '12 rally. A drop to 1390 will coincide with channel support and be consistent with a rate of advance similar to the June - September '12 rally:

 

Back to homepage

Leave a comment

Leave a comment