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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 5161 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...
...“My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market. The stock market is the greatest, most complex puzzle ever invented – and it pays the biggest jackpot…it was never the money that drove me. It was the game, solving the puzzle, beating the market that had confused and confounded the greatest minds in history. For me, that passion, the juice, the exhilaration was in beating the game, a game that was a living dynamic riddle"..
Jesse Livermore
..“If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong.”..
Bernard Baruch
..“It is much harder to sell stocks correctly than to buy them correctly.” Because of the emotional aspect of trading, if a “stock went up, the average investor would hold because he wants more gains – he’s exhibiting greed. If the stock declines, he also holds on and hopes the stock will come back so he can at least sell and break even – he’s hoping against hope”..
Bernard Baruch
."Buying stuff people hate, that's the business we are in, right!"..."you may need to have a longer time horizon"..."be patient"..
Mark Yusko
Unless you can watch your stock holding decline by 50 per cent without becoming panic stricken, you should not be in the stock market.
Warren Buffett
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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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