The SP500 Index (SPX) is nearing the 50% price retrace level and 50% of the time cycle from 1982-2000. The 1×4 Gann angle or the 50% price retrace could provide support.
Tags: Gann Angle Fan · Standard and Poor's 500 (S&P500)4 Comments
Price Time Volume Investing
Timing Market Cycles using Methods of WD Gann, Elliott Wave, Geometry, Squares, Trend Lines
October 9th, 2008 at 7:45 pm by
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4 responses so far ↓
Thanks Andy, appreciate that. Have fun trading today,
im kicking myself for having sold off my DUG puts…. bought them back in May, with oil at 140…. now they would be worth 40x what i paid for them….oh well, next time I will hold on a bit longer
The $SPX reached an intraday low on October 10, 2008 of 739. This price level was almost exactly at the 841 level or 50% price level.
Also, it was extremely close to the 1:4 Gann angle line from the 2002-2003 low point.
Disregard my comment about the 1:4 line from the 2002-2003 line