Price Time Volume Investing

Timing Stock Market Cycles Stocks using Methods of WD Gann, Elliott Wave, Geometry, Gann Square 9-90-52-144, Angle Trend Lines

Price Time Volume Investing WD Gann Elliott Wave Charts of SP500 Angles

Expiration Day Reversal

November 21st, 2008 at 6:59 pm by AndyAskey

Volume was up but that was most likely associated with options expiration.  The SPX reversed but ended lower than yesterday’s high.  The market may move higher from here, but nothing in the charts says it is probable.

SPX Chart

The regional bank index reversed off the low.  Volume was good but suspect due to expiration.  The July low has not been eclipsed which shows the Fed/Treasury has fixed at least some of the problems.

KBW Regional Banking Index Chart

The price of Gold Continuous Contract bounced off the 1×2 Gann angle as expected.  The descending angles and the previous high near 940ish should provide significant resistance.

Long Term Gold Chart

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6 responses so far ↓

  • 1 Forkoholic Serge Nov 21, 2008 at 7:56 pm

    Looks like we have couple more days in a fractal
    http://forkoholic.com/images/spxfractal112208.jpg

  • 2 almost44 Nov 22, 2008 at 11:12 am

    Serge

    help me read that chart of yours. how can you determine those turn dates?

    thanks

  • 3 Forkoholic Serge Nov 22, 2008 at 12:08 pm

    almost44
    it’s triangle apexes - just draw lines using highs/lows. software which “sticks” line like a magnet to any open/close/high/low points will give u good results

    HUMONGOUS RALLY IS COMING!
    Legacy Trade of the Century!
    Do not miss out!
    Donations are welcome!
    http://www.forkoholic.com/LegacyTrade08.htm

  • 4 almost44 Nov 22, 2008 at 12:53 pm

    serge

    thanks for the link to your site — very interesting.

    question for you

    would another drop in the market say down to the low 600 range on the S and P negate your analysis for an upcoming rally or would it simply move the “fork” down so the rally would start from a lower low and go to a lower high

    i am anxious to learn more about your analysis so I can follow it–thanks for replying and thanks to Andy for his analysis and this growing blog community–all great stuff.

  • 5 Forkoholic Serge Nov 23, 2008 at 12:16 pm

    almost44
    no, it will just pospond the rally and price targets will be different but on the same lines

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