The SP500 Index (SPX) chart is at the 1×2 angle of the translated Gann fan created using the low of 1982 and the high of 2000. The 1×4 angle served as support for the original move from 1982 so this geometry is significant. If it supports price here it will most likely lead to a good rally back up to the 1×1 angle. If price breaks through the 1×2 angle here, the 1×4 angle is around 900ish.
The Value Line Arithmetic (VLE) chart has not hit the 1×2 angle yet and has the potential of another 8% down to this line.
No matter what happens, keep in mind that it is just money. Life goes on. Family and friends are more important than money. Sure it is nice to have all three. But I will have a great life with family and friends and no money.
Tags: Gann Angle Fan · Standard and Poor's 500 (S&P500) · Value Line Arithmetic Index (VLE)4 Comments
4 responses so far ↓
Andy
If indeed we bottom in the next week I am thinking of Goog for the long haul (whatever that is). Can you give me your take on Goog.
Thanks
Robert
Andy, I love your site…
one thing that is quite amazing though is the difference in the slopes between the bear market of 2000-2002, and the drop now. The slope of the drop is almost the same as the slope of the drop after 9-11. Another thing that amazes me is the 30% drop since May, truly amazing….
I enjoy following your posts, and I do hope that your predictions are right
Kurt - Good question. Check out my latest post.
Robert - I will work on GOOG tonight and post the charts in the morning.