7 replies to this topic

[Russ]

Rodgerdodger posted:

From: da_cheif (don wolanchuk)
To: ALL
Date Posted: July 31, 2007 at 16:01:37
Subject: so much for the 2nd wave.....clx is setting up for a big reversal tomorrow after 1438 is reached

According to WD Gann's work if the correction exceeds the biggest correction of the bull market (9% in this case) then the bull market is over. ES 1425.33 is 9% from the top or 1415 SPX. Fridays low was about es1436 or spx 1432.80. This coming week is critical for Gann's methods. As mentioned before the 7th year of a decade tend to be bearish in the autumn.

Alan Greenspan gave high praise to James Flanagan who has followed in Gann's footsteps. Greenspan said: "The price patterns remain the same, but Gann discovered it first and James Flanagan follows it as an exact study. It is real research."
More information at: http://gannglobal.co...g=140&kbid=1444

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&b=5&g=0&i=p22751472590&r=100.png

[ogm]

Oh, the bull market is most certainly over. The real question right now is, are we going to be stuck in a wide trading range or will the bottom fall out.

[LarryT]

Oh, the bull market is most certainly over.

The real question right now is, are we going to be stuck in a wide trading range or will the bottom fall out.

The key level to determine that is the March low at 1363. That is the bull - bear line. IF and a big IF the index is going to bust 1363 odds are it happens late August to early September. The current wave down from 1556 is now is wave five with 1434, 1414, and 1381 as Fibonacci low targets. Friday breadth generated enough momentum to carry price to the 1414 level so we see what happens there.

Larry

[selecto]

I'm inclined to think that we need to bust down out of the uptrend channel from 04 before we start tootin' taps.

http://stockcharts.com/c-sc/sc?s=$SPX&p=W&yr=1&mn=4&dy=0&i=t03446758000&a=113714691&r=1255.png

[GOOSE2]

She's still bearish, but looking at the '97 and '98 markets didn't follow his rules '97 was a pretty good yr '98 we saw a massive downturn exceeding the other dips % wise and she still rallied to all time highs Thanks for the link, I love that stuff JMHO, but we would have to take out the March '07 lows to start talking bear market.

[relax]

Hi russ you say that the biggest correction was 9 per cent in 2004 S&P dropped from 1.163 to 1.060, equalling 9,7 per cent from 1.555 a drop of 9,7 per cent would equal 1.417 so this seems to be the key number in terms of the gann theory btw thanks for posting, interesting!

[Russ]

Hi russ

you say that the biggest correction was 9 per cent

in 2004 S&P dropped from 1.163 to 1.060, equalling 9,7 per cent

from 1.555 a drop of 9,7 per cent would equal 1.417

so this seems to be the key number in terms of the gann theory

btw thanks for posting, interesting!

Hi Relax,

I was using the % that James Flanagan posted and then did the calculation, thanks for the correction.

[Russ]

Actually 9.7 looks like it equals 1404.