I have just noticed that the move from June low is 7 months and the move
from Nov low is 7 weeks ie nested Gann Death zone cycles such as were
seen at the Gold high in summer 2010 and posted here at the time.
Cycles are cycles but mean nothing without pattern confirmation
Here it is illustrated by the Dax but obviously applies to Spx and most other indices
Another resistance zone is 7864 which is 1/3 from the 5913 low
7816 is 1/8 from the 6948 low
The 2nd chart hypothesises that the 5913 low was a 33.3% retracement of the final range and divisions of 9 are applied
Cycles are cycles but mean nothing without pattern confirmation
Here it is illustrated by the Dax but obviously applies to Spx and most other indices
Another resistance zone is 7864 which is 1/3 from the 5913 low
7816 is 1/8 from the 6948 low
The 2nd chart hypothesises that the 5913 low was a 33.3% retracement of the final range and divisions of 9 are applied
The chart S&P 500 Index, $SPX, traded by SPY, shows a 2.6% climb to close the week of January 4, 2013 at 1466, which is likely an Elliott Wave 2 High from its 1,565 on October 9, 2007; it may very well enter an Elliott Wave 3 Down commencing the week of January 11, 2013; this Wave, when it does come, will wipe out virtually all of previously accumulated fiat wealth; one’s only protection is to invest in and take physical possession of gold in bullion coins or in Internet Trading Vaults such as Bullion Vault.
ReplyDeleteexcellent observations.....Jan 12-18th will be a high probability pivot week.
ReplyDeleteThanks Pete.Happy New Year !
ReplyDelete