Technical Analysis
Long Term Market Analysis: Bulls need a strong countertrend
By Investment Moats  •  October 1, 2011


Drizzt: long term market analysis is a series once or twice a month where we take a look at longer term trends in the market to get our bearings right on the general direction of where market prices is going.

S&P 500 Monthly

Long Term Market Analysis: Bulls need a strong countertrend 20111001%20SP500%20Monthly.

STI Monthly

Long Term Market Analysis: Bulls need a strong countertrend 20111001%20STI%20Monthly.

I will try to keep this short as I don’t see anything different on the monthly charts. On the S&P 500, we lost 7.2% this month. 6 and 10 month EMA made a clean cut through the only saving grace is that the PMO have not indicated a cross over.

It is almost the same for the STI except that the PMO had a cross over.

For the bulls to still make this a correction, we need a strong rally in October, which is traditionally a good month for the bears.

Note, in 2010 we have something similar to this which we thought ...

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By Investment Moats
Investment Moats is set up by Kyith Ng and have been around since 2005. He aims to share his experiences making sense of money, how money works and ways to grow his money. It hopes that by sharing his experiences, both good and bad, season investors can advice and critique his decisions and new investors can learn from them and find their own style ...
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