4 replies to this topic

[gannman]

thats what im seeing. why ? we have finished the abc corrective wave and are about to embark on a wave 3 down which i fell will take us to the 400 level or therabout on the utils gann

[eminimee]

Possible...400 would be a target for a double top but my count is a little different.

http://stockcharts.com/c-sc/sc?s=$UTIL&p=D&yr=1&mn=6&dy=0&i=p20523916332&a=88068608&r=4199.png

[Bob-C]

thats what im seeing. why ? we have finished the abc corrective wave and are about to embark on
a wave 3 down which i fell will take us to the 400 level or therabout on the utils

gann

Hi gann, thanks for the heads-up on the utilities and your wave-3 down projection.

Here is the DJU daily TL chart:

Note, the lower DT line is pointing to your 400 target.

http://chart.nu/char...7&filter=34.png

Here is the UTIL daily chart which depicts RSI (2), RSI (5), and StochRSI all turning down after topping out:

http://stockcharts.com/c-sc/sc?s=$UTIL&p=D&b=5&g=0&i=p99645186098&r=3441.png

Here is the UTIL daily chart which depicts the Wm %R tutning down after topping out and the Fast and Slow STO both crossing negatively below their signal lines after topping out:

http://stockcharts.com/c-sc/sc?s=$UTIL&p=D&b=5&g=0&i=p14031065410&r=6373.png

Here are the UTIL daily and weekly Gallery charts: Note, the UTIL:SPX has failed to break above its signal line during the DCAT UTIL rally.

Cheers,

Bob-C

[vitaminm]

Target Est: 539..............568

[gannman]

your count is as valid as mine. either way i think we get a good selloff here cheers gann