TREND Technical Trader's blog

The DJIA rallied just as we'd predicted in the most recent TTT, and closed the week at roughly the break-even level for the calendar year, which also happens to be at approximately the same level as the 200-day moving average.

On decisive closes higher we must not be bearish, nor yet bullish. 

It's extremely rare for a major index to be alternating so often between a gain or loss for the calendar year, as has been happening with the DJIA in 2010, but we're well-positioned and will simply ride it out and adjust accordingly if need be. 

Below is a daily chart of GLD, the ETF which tracks the price of gold in U.S. dollars.

We see a break of the intermediate-term uptrend (green line) in July, followed by a re-test of that trendline from below in August on lower volume.  So far this is normal movement which typically resolves downward.    

In our August 26th issue of the TTT, the suggested entry price for the "Technical Trade" was mistakenly listed as $27.10 but should have been $37.10 

All apologies, and no harm done we hope.  We're learning an embarrassing lesson for buying a laptop computer with a smaller than normal-sized keyboard.  Neither level has yet been triggered and the error is obvious in context of the commentary and suggested exit point & risk levels. 

ASPEN, Colo.--Intel Chief Executive Officer Paul Otellini offered a depressing set of observations about the economy and the Obama administration Monday evening, coupled with a dark commentary on the future of the technology industry if nothing changes.

Please be advised that a new issue of the TREND Technical Trader has been sent to subscribers on the evening of Thursday August 26th. 

In late March we commented in this blog regarding an imminent move in interest rates and the effect this might have on the markets. 

In these two YouTube videos, motivational speaker Anthony Robbins issues dire economic and stock market warnings. 

http://www.youtube.com/watch?v=Z_rShZA_IjE&feature=player_embedded

http://www.youtube.com/watch?v=LZuJqrcwrEU&feature=player_embedded

Since our last update a week ago in this blog the DJIA remains in a downtrend and is bearish per key technical indicators, and is in the red for the calendar year thus our in-depth study from last issue remains valid and is the basis for our current outlook and positional balance. 

Here is a partial recap of key open positions, per the entry & exit levels suggested in TREND Technical Trader :

1/2 DVT long + 20 %  Remains in a long-term uptrend and well above our stop loss level.  

We suggest there is a zero percent chance of a double-dip recession, given that there is no evidence either empirical or official that the current recession begun in 2007 has ended.  In other words, we are still well within the first dip ergo no 2nd dip is currently possible.

So many experts call for the demise of all fiat currency.  Some of these are highly respectable and experienced commentators.