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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Sunday 4 March 2012

Cash Dow/Gann angles




Posted by at

11 comments:

  1. Trading Sunset4 March 2012 at 15:29

    Hmm, so dow 12400/300, maybe..no later than end-month.
    --

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  2. Chartrambler4 March 2012 at 16:19

    12359 is the 38.2% retracement and around there would seem to fit with cycle and Gann line support....

    ReplyDelete
  3. Trading Sunset4 March 2012 at 22:27

    Its certainly an area - if we get there, the bears (myself included) will need to get real twitchy and be ready to make a run for it.
    -

    I think only if the Greeks decide to not pay their interest payment, can we break much below that level.

    Otherwise, assuming they do pay, March could indeed end with the 38% retracement, and then bouncing into early summer.

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  4. Anonymous4 March 2012 at 23:12

    HELLO C R AND P D ;

    I HAVE STUDIED THE MAJOR INDEX'S AND MY THINKING IS A SLIGHT PULL BACK IS FORTH COMING .

    I HAD THOUGHT THAT IT MIGHT BE MORE THAN THAT, BUT I DO NOT THINK SO NOW . YES ABOUT 3 TO 6 WEEKS AT THE MOST AND LOOKING AT THE S&P 500, 1275 MIGHT BE IN DOWN SIDE TARGET AREA .

    MY THOUGHTS ARE , I THINK THE S&P 500 WANTS TO MOVE UPWARD TO THE 1475 TO 1550 AREA LATER AND THERE IS NOW TO MANY BULLS IN THE CLOSET AND THE INDEX NEEDS TO TAKE A BREATH BEFORE PROCEEDING HIGHER .

    IF ONE LOOKS BACK ON THE PROCEEDING TOP'S IN 2000 AND 2007, ONE VIEWS THEM AS WEEKLY OR MONTHLY . ONE SEE'S THAT BEFORE THEY MADE THEIR FINAL TOPS THEY DID TAKE A PULL BACK AND THEN MAKE THEIR FINALLY HIGHS IN THE S&P 500. MY THOUGHT IS , IT WILL DO THE SAME AS IT DID IN THE PREVIOUS TIMES BEFORE .

    WHAT WILL MAKE IT BREAK LATER AT THE 1475 TO 1550 HIGH AREA , MIGHT WILL BE THE IRANIAN PROBLEM OR THE OTHER EUROPEAN WEAK NATIONS AND THEIR DEBIT PROBLEMS ?

    ONLY TIME WILL TELL .

    GOOD THOUGHT'S FOR ALL . D-KNOX.

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  5. Trading Sunset4 March 2012 at 23:53

    Hey Knox.

    Yeah, thats what I am concerned about for rest of this year.

    The maniacs/deluded are all looking for some kind of hyper-blow off rally, much like the style of tech' in 1999/2000.

    The touters for AAPL $1000, are exactly the ones we need to be mindful of. There are enough out there - assuming none of the major ticking econ-timebombs detonates, to lead to a challenge to 1450/1550.

    There are plenty of pros' with infinately more experience than myself, many all looking for 1450/1550 sometime this year.
    -

    Right now, as stated, we can throw out the 1400+ scenario if we break below 1240 in this wave lower.

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  6. Chartrambler5 March 2012 at 00:11

    I do wonder if the PTB have pulled out all the stops to rally the markets because they always knew Greece would default and they would rather see a 10% (or more) correction from 1370 than from 1250 so I haven't given up on the idea of a larger correction but as you gys say bears need to be cautious.The US has seen capital flow from Europe too,no doubt.I think the Dax will be the key,it will be very interesting to watch how it behaves

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    Replies
    1. Trading Sunset5 March 2012 at 00:26

      Yeah, thats the kinda scary aspect, even a 10% mover lower in the main indexes would still not make me entirely confident.

      I can just imagine, even if the greeks failed to meet a payment - and somehow 'pledge' to pay 3 months later than scheduled, even if market at 1260/40 zone, once we move into April, we could rally on more zero-vol. meltup.

      ...and that rally would be without the Bernanke doing QE3.
      -

      I am also watching the DAX, and other Euro'indexes. Might do a posting on that early this week. The monthly charts are particularly interesting (Japan is the only one thats broken up out of its range lately)

      Delete
    2. Chartrambler5 March 2012 at 00:37

      EWJ had a nice reversal candle last week

      Delete
  7. Chartrambler5 March 2012 at 00:12

    I just posted another Nigel Farage video...that guy is a legend !

    ReplyDelete
  8. Anonymous5 March 2012 at 01:27

    HELLO C R AND PD ;

    JUST A THOUGHT . I HAVE BEEN EXPECTING GOLD TO MOVE LOWER INTO THE LOW 1500'S TO HIGH 1400'S WITH THE DOLLAR MOVING UPWARD TO THE AREA OF 87 TO 88 ON THEIR RESPECTIVE CHARTS.

    PLAYING OUT THAT SONG , IT MIGHT MEAN WEAKNESS IN THE EURO AND DAX , CAX AND THE OTHER MAJOR INDEX'S OVER THERE .

    THE MONEY MOVING INTO OUR MARKETS AND THE DOLLAR GROWING STRONGER , OUR TREASURIES BEING BOUGHT AND OUR MARKETS BEFITTING FROM THE EUROPEAN WEAKNESS'S .

    JUST A THOUGHT ?

    HAVE A NICE WEEK . D-KNOX.

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  9. Chartrambler6 March 2012 at 03:06

    Hi DKnox. I see gold in a big pennant pattern with more downside .I am not sure if we take out the recent lows.I am more positive longer term because i think CBs will continue to print money and I don't believe we have seen the real blow-off stage yet.I agre the US has benefitted from capital flight from Europe.Throw that on top of loose money and its a heady mixture,as we have seen
    All the best.

    ReplyDelete

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