We are running 17 days on the Gann 16 day cycle and that portends a nice rally into Friday. How high? At least the 1505 area and perhaps higher with maximum of 1540's. Gap up today is like Aug 6 low, 17 market trading days ago and high trin reading of Aug 3. Look for the gap to be sold and slightly lower prices into around 10:50 EDT if we play out the same scenario. Next low due Sept 11-12 (the 4.5 year cycle low) and my target is 1260 SPX.
SPX 1425/26 Should Hold
Started by
blustar
, Aug 29 2007 08:26 AM
7 replies to this topic
#1
blustar
-
- Traders-Talk User
- 6,220 posts
blustar
#2
hiker
-
- TT Member*
-
- 12,118 posts
independent trader
Posted 29 August 2007 - 08:30 AM
hi blu...target is 1260 or 1360?
#3
blustar
-
- Traders-Talk User
- 6,220 posts
blustar
#4
traderpaul
-
- Traders-Talk User
- 6,034 posts
Member
Posted 29 August 2007 - 08:50 AM
From 1540 to 1260 in days.....R U saying the C word? 
"Inflation is taking place now. Prices may not appear to be rising because they are making packaging smaller. "— Rickoshay
#5
blustar
-
- Traders-Talk User
- 6,220 posts
blustar
Posted 29 August 2007 - 09:04 AM
If you call an 18% move down in 6-7 trading days a crash, then yes. 
#6
blustar
-
- Traders-Talk User
- 6,220 posts
blustar
Posted 29 August 2007 - 09:27 AM
So far, the gap up is holding and the pattern looks bullish. A .666 retrace of the gap up and we may be off to the races.
#7
btrade
-
- Traders-Talk User
- 33 posts
Member
Posted 29 August 2007 - 12:59 PM
We are running 17 days on the Gann 16 day cycle and that portends a nice rally into Friday. How high? At least the 1505 area and perhaps higher with maximum of 1540's. Gap up today is like Aug 6 low, 17 market trading days ago and high trin reading of Aug 3. Look for the gap to be sold and slightly lower prices into around 10:50 EDT if we play out the same scenario. Next low due Sept 11-12 (the 4.5 year cycle low) and my target is 1260 SPX.
What are you basing your forecast on? Gann, long term cycles, mirror image, ewave,astro? This would really be an OOCH! I can understand a rally into Friday. With the boyz gone (short sellers) all that's left is buyers. But 245 point decline in a few days. WOW. How confident are you?
#8
blustar
-
- Traders-Talk User
- 6,220 posts
blustar
Posted 29 August 2007 - 02:33 PM
We are running 17 days on the Gann 16 day cycle and that portends a nice rally into Friday. How high? At least the 1505 area and perhaps higher with maximum of 1540's. Gap up today is like Aug 6 low, 17 market trading days ago and high trin reading of Aug 3. Look for the gap to be sold and slightly lower prices into around 10:50 EDT if we play out the same scenario. Next low due Sept 11-12 (the 4.5 year cycle low) and my target is 1260 SPX.
What are you basing your forecast on? Gann, long term cycles, mirror image, ewave,astro? This would really be an OOCH! I can understand a rally into Friday. With the boyz gone (short sellers) all that's left is buyers. But 245 point decline in a few days. WOW. How confident are you?
Based on Gann, 4.5 year cycle, Astro and Elliott. Right now it looks like we hit 1508 by Friday. A pull back into midday Thursday to 4Q 47.34 looks likely and then a stronger up wave into mid session Friday to at least 1508 SPX. 1260 still looks likely by Sept 11/12. I'm fairly confident.
