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S&P 500 Index chart with trendline and support zone

Apr 152013

Intermediate trend is up for the S&P 500 until proven otherwise

S&P 500 Index daily chart showing the upward sloping trendline and the support zone.

S&P 500 Index Daily 1-Year Chart

The chart pattern today (Monday, April 15) indicates caution but the intermediate trend is still up until there is a confirmed break below the intermediate trendline. This is near the support zone of 1530 to 1540.

There are three trends to consider for any index or stock: up, down or sideways. And there are three time frames to consider for a trend: near-term trend, intermediate trend and major trend.

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Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

SPDR Gold Trust ETF (GLD) logarithmic chart analysis

Charted Stocks No Responses »

Apr 142013

A break below major support of 150

GLD ETF 5-Year Weekly Logarithmic Chart

GLD is officially in bear market territory (-20% from a high) as the $143.95 close is a drop of 22.5% from the September, 2011 high of $185.85. And then we have the break below major support of 150. The next support level is 140.

I don’t care about reasons for the price of goal. There are people who make a living writing about the multitude of reasons for the slide in gold. I just follow the chart until it indicates a bottom. Reasons are irrelevant.

Reference the last chart analysis for the SPDR Gold Trust ETF (GLD)

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