.

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
.


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

Saturday, 21 July 2012

One of the simplest but most reliable rules is to look for 3 tops or bottoms as you usually get a decent move and often a fast one.Do we have our 3rd top ? The Gann cycles from a few days ago called the second top  so things might get exciting


On the SPY we can see the market has gapped down twice from the 137.5 area.Nice spinning top and reversal yesterday



Posted by at

4 comments:

  1. Anonymous21 July 2012 at 08:32

    very nice/ Third bubble completed. Decline should ensue

    ReplyDelete
  2. Anonymous21 July 2012 at 13:42

    CR...draw those SNP lines on a BAC chart and let me know if you see anything stopping it beore mid $5's...please and thanks

    ReplyDelete
  3. Chartrambler21 July 2012 at 15:57

    Hi Stockyard.BAC is a very different looking chart.It looks very poor and my guess is it will retest 5.00 at some stage.The thing that stands out on the chart is that the range was 5 to 10 so divide that range by 8 to get the restance levels.There may be some support at 5/8 (or 0.618 if you prefer !) It is following Gann's natural time season nicely (low late Dec,high late March,high late June so maybe a low late Sep ?

    ReplyDelete
  4. Chartrambler21 July 2012 at 16:35

    I posted a chart of BAC on the blog

    ReplyDelete

Subscribe to: Post Comments (Atom)