I updated that Gann Emblems link found under the Charts heading on the right side of the page. The July and January high/low are available for the Valueline Arithmetic Index (VLE). The October and March high/low are available for the SP500 Index (SPX). Gann Emblems are circular divisions of time with one year equaling 360 degrees. Gann found specific time intervals useful to watch for changes in market trends.
The SPX is approaching 90 days (13 weeks) from the March low. Ninety days from a high or a low is always a place to watch for a change in trend. Because I believe this move is a “B” wave counter trend, 90 days is especially important time to look for a reversal.
From the Oct07 high, the SPX is approaching 240 degrees on June 11th. The wheel also is a simple tool for showing that there have been about 35 weeks since the high.
Post Modified: July 3rd, 2008 at 12:32 am
Tags: A-B-C Correction · Gann Emblem · Standard and Poor's 500 (S&P500) · Value Line Arithmetic Index (VLE)No Comments
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