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Created on: 8/24/2012 5:26:45 AM Last Update: 8/24/2012 5:27:02 AM Posted by: RTT WARNING: This entry is 4455 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.
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SP500 Gann Angle Review
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Time to review the eye candy Gann Angles holding the SP500 together.
Golly gosh we have two days of lower closes on the SP500. Plus the volume was the highest it has been since pre US holidays.
Mr Market is fueled by belief and fact. The belief is that central bankers will cover the never ending debt issue, any facts to the contrary and Mr Market will punish risk on stocks. With the central banked fueled stock market each and every date the ECB, BOJ, FED and BOE says something is turning out to be a pivot point in the market either up or down. Recently and while SP500 is at a high FED Fischer poured cold water on the need for QE, and you can bet when stocks hit a range low FED Yellen will support the need for more QE. This was the musical cheers in 2011, and it is the same this year.
Reference: Fed Fischer speaks, bodes ill for the markets US Fed Good Cop, Bad Cop routine is boring
Back to the SP500 Gann Angle chart.
The Blue 1x1 is the lower rock solid channel line that should hold until election. of course subject to FACTS up setting the risk on party.
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NOTE: Posts here are the lite version, more depth on each subject can be found via our RTT Plus membership.
Changes in the world is the source of all market moves, to catch and ride the change we believe a combination
of Gann Angles,
Cycles,
Wyckoff and
Ney logic
is the best way to ride the change, after all these methods have been used successfully for 70+ years.
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Investing Quote...
.."Success in trading means excess of profits over losses. If anyone tells you they can almost be invariably successful, put him down as trying to impose on your credulity."..
Richard D Wyckoff
.."When a dictatorship is a fact. Revolution becomes a right"..
Victor Hugo
..The time of maximum pessimism is the best time to buy and the time of maximum optimism is the best time to sell"..
John Templeton
.."man exists for the achievement of his desires"..
Ayn Rand
.."A radical is one who speaks the truth."..
Charles August Lindbergh Snr
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We at readtheticker.com hold the view that a mix of stock chart technical analysis, Richard Wyckoff, William Gann and Jim Hurst methods plus market fundamentals allows the investor to formulate a very sound market opinion. These attributes are mutually inclusive and must be weighted equally before investing or trading in any Stock, ETF, Currency, Bond, Commodity, CFD or Mutual Fund
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