NEowave Neutral Triangle on Gann Date
In this difficult volatile market I am remaining present centric, trading patterns I see.
This pattern is interesting, a balanced neutral triangle on todays 12/14 Gann date.
One would expect a tradeable rally here if the technicals and tape can improve by end of the day....It will be very interesting to watch if a rally can be sustained into the next Square of 9 date of 12/20...
This pattern is interesting, a balanced neutral triangle on todays 12/14 Gann date.
One would expect a tradeable rally here if the technicals and tape can improve by end of the day....It will be very interesting to watch if a rally can be sustained into the next Square of 9 date of 12/20...
posted by chartblog at
10:30 AM
3 Comments:
Dave, SPX has the 50% retracement already from the last move, is this the Gann's most probable retracement? Thx
50% is high probability because its symmetrical with move off November 1 (green boxes).
Acting well so far.
How high this short term rally goes into next week is key. If we break well above the recent Dec. highs then January 20 week cycle low should hold 1170.
If this rally fails to get above Dec highs , January 20 week low may see the 78% retrace of the whole upmove down to 1120.
Lots of if / then / ors in this volatile chess game of a market.
Im watching this Sq of 9 December 20 date very closely. If there is any type of climax panic buying near it, Ill sell all longs into it.
SPX 1155 into January may have the best odds of all.
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