Not much to discuss tonight. Low volume action around the 1×1 Gann Angles of the March to May range. Yesterday was 90 days from the March low and nothing is happening. The SPX range from March has the 50% time line on June 20th with 1348 as the 50% price retrace (50/50 point). It won’t be unexpected to see price here on Friday - at least some part of Friday.
The QQQQ did bounce off the 1:1 descending angle as discussed yesterday. This wasn’t a “sure thing” call. If price did slash through that line and continue up then we would note the market in a strong position.
I’m working on updates for the AAPL and GOOG charts and hope to have at least one of those up tomorrow.
Post Modified: July 3rd, 2008 at 12:36 am
Tags: Gann Angle Fan · Price Retrace · QQQQ · Standard and Poor's 500 (S&P500) · Volume6 Comments
6 responses so far ↓
looking forward to see AAPL.
Andy - I like the small font in the recent comments widget. It easier on the eyes.
I would suggest doing the same thing for the rest of the blog. You want more content per page.
TK - It may be your browser or your monitor size/resolution. On my 5 monitors of various sizes with Firefox2 and IE6 and IE7, the sidebar font is a little small (but readable). I don’t want to change the post font at this time as it would make it difficult for me to read (and possibly for others).
Another suggestion i have is — Lets say you are talking about apple, you would post a chart for it . The chart is a jpeg and hence wont update automatically. What would be interesting be that the chart has a blue DOT for the day you posted it, but it keeps refreshing. As your analysis uses tons of lines in a chart, its difficult to do a follow up using a stock charts chart.. If you need some programming help w/ that, let me know.
Just my 2 cents.. Even without it, i would come here to read..
TK - I going to have to pass on that suggestion for two reasons. One - it will add a lot of work. Two - it makes the post about my analysis and not about the outcome from that analysis. If I post about AAPL, then everyone should be focused on the AAPL chart and not what I have to say about AAPL. In most cases, once I draw the lines, the chart speaks for itself. My comments are mostly to educate on what to look for.
Damn Andy, you are damn good…
almost on cue….i’d think that quad witching is keeping things down for this week….
thanks for your insights also regarding apple, i think we will see a runup, but also a sell off in july-august (disappointing guidance maybe)…