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Dr. Thomas Carr
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Dr. Thomas K. Carr (aka “Dr Stoxx”) is the Founder of DrStoxx.com (formerly “Befriend the Trend Trading”). He holds M.Phil. and D.Phil. degrees from the University of Oxford. For 16 years he was a tenured professor and department chair. He currently is a fulltime trader, market analyst, trading... More
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  • S&P500: New Downtrend Channel Forming? 0 comments
    Feb 13, 2014 12:23 PM | about stocks: SPY

    Following recent volatility in the major market indexes, we now see technical damage down to the prevailing uptrend. The S&P has managed to regain its 50-period SMA, but a rollover here would like precipitate another spate of selling pressure. It would also confirm the lower pivot high and the likelihood that we will not see new all-time highs for several weeks.

    Note that the Volume Balance (bottom of chart) has been falling off for weeks, acting here as a leading indicator relative to price:

    SPX chart:

    Chart of the S&P500

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: S P500 Stocks: SPY
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