Andrews w/ Hurst 20 Week Lows
SPX appears to be marking out time and building a wave C or 3 down....so far there is a leading diagonal structure into yesterdays low which suggests to me the trend has now shifted to down.
Wave B or 2 may need more time to finish but is now up against Andrews resistance...
Wave B or 2 may need more time to finish but is now up against Andrews resistance...
Wave G Update: 12.30.11
Update 1.2.2012
posted by chartblog at
4:02 PM
5 Comments:
Bradley's major date of 12/28 may signal the change in trend to down. Perhaps into the full moon on 1/9.
Hi Dave,
What trading platform and/or charting software do you use? Have you heard of the Market Analyst Software? I am looking into it and it has built-in Gann tools and it seems to be really cool. But it's bit pricey. What do you think?
Nice intersection of the Andrews forks and the upcoming 1/9 full moon (potential tradeable low).
Hi Frank, was on vacation....
Havent heard of Market Analyst. I know Dynamic Trader software is excellent (also pricey I believe). Marketgeometrics has an excellent program called Auto Forks which I may subscribe to in the future.
Ive used the expensive intraday packages before but heres something that makes one think....how did Livermore make millions of dollars using only a pencil and paper.
Livermore tells a great story about another speculator who lived far in the mountains and made millions trading from 3 day old newspaper quotes. When interviewed, this mountain speculator said to the effect "Real moves in the market dont end the day they start. It takes time to complete genuine movements. Being in the mountains keeps me away from the confusion of the minor fluctuations and focused on the larger move."
Thats where my philosophy has headed. Ive become nearly convinced that probably all one needs to speculate using what Livermore called "the Time Element", is end of day quotes and Microsoft Excel. :-)
-Dave
Hi anon,
Yes, that 1/9 date looking interesting.
Another fork intersection with the lower parallel extends to the Jaunary 24 Square of 9 date and the unfilled gap of 10/10.
So far these Neowaves have been 18-20 trading days each....a wave G of 18-20 days is on that January 24date. Thats right in the Gann 180 window off the July 24-25 high.
*see new chart added 1/2/2012
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