Price Time Volume Investing

Recap of recent posts –

• Didn’t get the weakness I expected this week. Continue to expect retest of 1440 by mid-June.
• SP500 Index (SPX) short term bounced off 3/8 retrace. Long term bounced off 50% retrace. Intermediate and long term charts shows appearance of drawing price to 1425-1440ish.
• Russell 2000 (RUT) is at 50% retrace in short term. Price has broken above the 1:1 ascending Gann Angle in the longer term — after hitting the 50/50 point.
• The Powershares QQQ Trust (QQQQ) is tracking the 1:1 ascending Gann Angle.
• Price is following the roadmap laid out last July-October.

Weekly Guess

The market looks better this week than last week. But it may continue to alternate up and down weeks as the calendar moves towards the top. I continue to expect price to roll over between now and early July. This isn’t a great call for trading as it isn’t precise. My money is leaving equities between now and then. I could be wrong. But I would rather be wrong with my current asset level than wrong with much less.

Total Market

The Wilshire 5000 Index (WFIVX) is at the 1:1 descending angle. If price does make a run, I do not expect it to cross the 1:2 Gann Angle that served as support during the bull run that started in 2002.

Post Modified: July 3rd, 2008 at 12:31 am

Tags:   Gann Angle Fan · Market Outlook · QQQQ · Roadmap · Russell 2000 Smallcaps · Standard and Poor's 500 (S&P500)No Comments