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SP Gann Anal-ysis


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(posted here too in case you missed it)

 

The end,

You are correct, THIS week did CLOSE above the 1987 Low 1X1!

Like most forms of S/R ...brief incursions above or below Gann levels

or what Gann himself termed "false breaks" lead to the most powerful reversals.

Therefore, particularly in light of many other "cracks" appearing in market internals, non-confirmations, and recent notable weakness in the same old leaders. Doc's trusty Mo Gauge and Feedometer also telling us storm clouds are again gathering. I am looking for an IT top soon. My Hank-o-meter continues to register moderate bullishness and is what I am watching closely now to confirm all of this.

I will truly be befuddled if we make it much into Jan without a good sell off????

However, all the cycle work I now follow, says it will not be a crash from here but another rally into March - June of next year before we have major negative cyclical pressure and bears can exit from long hybernation.

We shall see.

For now, I see an "easy" trade set up in bonds and it looks like they may be about to embark on another sharp move. Also looking to re-enter HUI.

Not adding any more short trades for now.

 

Regards,

Hank

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I've been maintaining some Gann charts that BlackBelt created back in the spring. I don't know much Gann but I love looking at the charts and thought you might be interested.

The only thing I have changed on the chart is to add the teal dashed Gann line. I duplicated the angle relationship BB used on the rest of the chart.

 

BB Memorial Weekly S&P Gann:

post-13-1071431843.png

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