• 3 hours Chinese Investments In the U.S. Plunge 90% Under Trump
  • 6 hours Mining Major Sets Aside $400 Million To Reduce Emissions
  • 8 hours Golden Ice Cream And Spiced Vodka: The Craziest Things Made From Gold
  • 24 hours Can Twitter Sway Economic Policy?
  • 1 day Widespread Power Outages Hit New York City
  • 1 day Equifax To Pay $700 Million To Settle Data Breach Case
  • 1 day Netflix Struggles To Rebound After Subscriber Hit
  • 2 days $15,000 For Your Crypto’s Ticket To Visibility
  • 3 days The Next Fashion Frontier
  • 4 days What Is Africa’s Role In The New Silk Road?
  • 5 days Trump Was Right About The Dollar
  • 5 days Is Silver Gearing Up For A Rally?
  • 5 days World’s Largest Hedge Fund Turns Bullish On Gold
  • 5 days It’s Time To Spend More On Clean Energy R&D
  • 6 days Contrarian Investors Are Beating The Stock Market
  • 6 days Bulgaria’s Revenue Agency Falls Victim To Biggest Cyber Heist In History
  • 6 days Amazon Faces European Union Anti-Trust Probe
  • 6 days Commodities Are Having A Stellar Year
  • 7 days Bezos’ Next Big Project Could Be Worth $100 Billion Per Year
  • 7 days 3,600 Years Later, Climate Change Turns Mammoths Into $40M Market
Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

  1. Home
  2. Markets
  3. Other

The State of the Trend

For the last two weeks the SP500 has followed the quadruple witching pattern (as outlined here) very closely. So it's time now to take a look at what has happened before in post-expiration week:

S&P500 Daily Chart
Larger Image

The result was mixed, but mostly sideways/down.

A period of mixed, choppy action can be expected now as well since weekly market breadth is neutral, while daily is getting overbought. For the time being, the trend is up, and SPY Trend Bars™ point to 208-209 as the support zone above which price needs to stay to avoid a trend reversal:

SPY Trend Bars Chart
Chart courtesy of OT Seasonal

Gold and its ETF have found support at the Nov '14 low. At a minimum, a sustainable break above 115 and 120 for GLD is needed to confirm that a double bottom is in place:

SPDR Gold Trust Shares Weekly Chart
Larger Image

 

Back to homepage

Leave a comment

Leave a comment