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Gann for Stoolies


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McHughs Fib date of Sept 7

Dharmaeye,

Thanks for McHugh's analysis, he fits with mine almost perfectly, except I am still moderately bullish on the dollar(looking for a push to @ 95, and top) and see 375 instead of 385 as the critical support for gold which I am skeptical will ever break. He also is looking for @150 on HUI where a very significant bottom will be in! And his wave counts on the broad indices are identical to mine.

I like his strict TA approach and the methods he uses.

 

Yes, this rally needs a little more time to top out and Sept 7th looks about right!

As always I will post my CT signal when it gives the go ahead to short again.

LT indicators ALL on SELL since end of June.

 

Hank

 

This hasn't rolled over yet:

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  • 4 weeks later...

Concerning the pm shares and the metals. We are 30 days from the September 8th low. Time for at least a short term change. Right at 240 resistance in the HUI. A number of fib resistance points in the range 3.50-8.40 and 5.40-8.40 in Silver. Not looking for a major break but definitely a place to take profits on paper Silver and Gold.

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  • 2 weeks later...

Gann Master Chart = Square 52 applied to the weekly:

 

I haven't updated this since all my long term indicators went on sell in late June of this year and I was discussing the 4 year cycle top.

Currently the SP is getting squeezed between the 233 week MA which held the 1987 panic sell off and the 1990 recession 4-yr lows. This current secular bear market easily punctured that important MA and look what seems to be capping it now!

Just below we have the all important 1987 low 1X1.

 

Yes the squeeze play is on and a monthly close above or below either will be a significant clue as to where the market goes into 2005 in my opinion.

Also note the last stand support or zero line is now around the 900 level.

 

Hank

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Dow Square High.

 

Mr Hanky is feeling a sudden chill in his trader's bones.

Wall Street turning to Fright Street for holloween????

Be on alert here, I try not to abuse the "C" word but things are

getting very weird as I look at my systems indicators the past few weeks.

I really feel something BIG is about to happen! :unsure:

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  • 3 weeks later...

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