"Has the S&P completed an A-B-C rally phase and poised for a new wave of selling and a new leg down to new lows?
But, caveat emptor as the last two weeks may have been the eye of the hurricane and the calm before the storm: the current period aligns cyclically with what Gann called a panic zone which is 49 (7 squared) to 55 (Fibonacci) days from a peak.
Sept 11 is a solar eclipse which is the most powerful of astronomic/cyclical influences and it will be interesting to see if its power is exerted on the 6th anniversary of 9/11.
This is the time frame in which many crashes in history have played out including 1929 an 1987.
I maintain a bearish bias. Resistance should be up to 1479/1480 cash with a trading stop at 1484/1486.
A break of 1432 could start a waterfall decline."
Edited by ogm, 06 September 2007 - 08:04 PM.