Did the Hurst 9 Year Low Just Bottom? All Eyes on the September 16, Gann 180°
This smells like a major low. If this is indeed a bullish Gartley butterfly, it means the 9 year low is bottoming on the 20 week and the Gann 144 may just be the middle part of the next rally.
September 16 is also a Gann 90 off the June 16 lows, a 45 from now, and a 120 from the May 17 lows.
Big rallies are born of panicky selloffs. This 20 week black hole was annoying, but hasnt changed what looks like very bullish wave structure into November.
September 16 is also a Gann 90 off the June 16 lows, a 45 from now, and a 120 from the May 17 lows.
Big rallies are born of panicky selloffs. This 20 week black hole was annoying, but hasnt changed what looks like very bullish wave structure into November.
posted by chartblog at
2:59 PM
7 Comments:
AI: http://www.amateur-investor.net/AII_Daily_Report_Aug_3_2011.htm
If a Wave 4 oversold technical bounce occurs over the next few days, a retest or lower low has the potential to set up a positive MCO divergence.
SPX went below the Gann 1×1 line yesterday. Doesn’t this suggest that we have arrived at a new point in a weakening market? Furthermore, the question also remains as to what kind of climatic low must be reached before a bull phase is set in motion? Any thoughts???
Your comments remain bullish but the magenta pitchfork seems to suggest the potential for a change in character of the market.
The appearance of the lows and highs since last summer appear that cycles may be changing from positive bullish right translated structures to negative left translated. Do you see this as a reasonable possibility considering that economic data around the world currently suggests weakening growth prospects?
Even if the market bounces soon, the SPX gap from December 1st 2010 at approximately 1180 appears likely to be filled.
This dude clearly has no clue whatever about the stockmarket.
Thinking that the freakin' MOON controls the economy!
Ha!
He must have lost a FORTUNE this week.
S&P 1400?
My arse!
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We should bottom "sometime" in the near future, maybe 2012 @ 1000/850 S&P. WHY no updates Dave?
I find the blog to be interesting and facinating combining a number of disciplines along with technical analysis.
"Back on the crash day of October 19, 1987 there was a very powerful planetary configuration which occurred. Mars (energy and power) was on the eclipse degree (extra power) malefic to Neptune (confusion) which caused the negative psychology of the day. 1987 crash was indeed a powerful confused day of negative energy."
"Right now into early August 2011... Mars has arrived on the eclipse degree again but this time benefic to Neptune."
Any more thoughts on this astro signature which currently appears to be negative along with the current solar coronal mass ejections (CME's)?
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