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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

Intelligent, polite feedback welcome !
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Sunday, 18 November 2012

Spx

Range expansion on the last 2 weekly bars looks ominous.1350 square of 144 support was evident on Friday






On the daily chart there was a bullish hammer on Friday so we may try and rally but there is resistance at 1370,May 2011 high and 1372.5 (square of 144) and from the 200 dma




On the "calendar day" angles chart (which leaves spaces for weekends and holidays) we bottomed on te 1x2 and on 61.8% retracement








4 comments:

  1. I'm also here to learn. ;-)

    Can you give me a good, quick primer on the Gann Square of 144 and how you're applying it?

    TIA :-)

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  2. Hi HR well Im really only looking at the price aspect and I was taking 144,times it by 10 and divide by 8 for major support and resistance,with minor levels at 1/16.Thus 1260 to 1440 is 1/8 and then dividing that by 8 again as it seems to be working.Time is something else which I haven't really looked at so just using Gann angles and the Gann emblem for that

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  3. Nice stuff! It's a shame "calendar day" charts aren't more prevalent :(

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  4. Hi Zim,yes apparently Gann said to look at both (calendar and trading days) but so many just look at trading days

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