AI
Friday, August 17, 2012 11:14:36 AM
$SPX Gann Monthly
Here's an update of a long term chart. The Gann fan in question (rising from the '74 low) stopped the $SPX last year. It stopped it in May this year. Given we are getting late in the 4.5 year cycle, I expect it will perform its magic over the next few weeks.
We are right near resistance in so many ways. A double top (with the spring high) would fit perfectly, but the bears don't always get what they want. A short term top at least is worth a wager here.
cheers,
john
Here's an update of a long term chart. The Gann fan in question (rising from the '74 low) stopped the $SPX last year. It stopped it in May this year. Given we are getting late in the 4.5 year cycle, I expect it will perform its magic over the next few weeks.
We are right near resistance in so many ways. A double top (with the spring high) would fit perfectly, but the bears don't always get what they want. A short term top at least is worth a wager here.
cheers,
john
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