The SP500 Index (SPX) corrected after six days without a move below the low of the previous day. A move back toward the 20 day moving average is expected. Volume was lower today than yesterday and all days last week. CSCO warned after the bell putting pressure on the indices.
Entries Tagged as 'Price Retrace'
Expected Correction on Lower Volume
November 5th, 2008 6 Comments
Tags: A-B-C Correction · Cisco Sytems (CSCO) · Nasdaq Charts (IXIC) · Price Retrace · Volume
Financials Show Strength During Selloff
September 16th, 2008 No Comments
The banks and brokers have taken different paths down, but are holding up well during this down draft.
Tags: Banks-Financials · Gann Angle Fan · Price Retrace
Weekend Outlook – 13Sep08
September 13th, 2008 4 Comments
Short term the market swing chart is not is great position. I continue to expect (or will not be surprised) by a move to SP500 Index (SPX) 1150. But the situation this fall looks much better. Using the Value Line Arithmetic Index (VLE) as the state of the total market we can see that price and time are in a favor.
Tags: Elliott Wave Analysis · Market Outlook · Price Retrace · Value Line Arithmetic Index (VLE)
Always Look on the Bright Side of Life
September 8th, 2008 No Comments
I believe the VLE is the best long term chart I look at. The VLE is telling us that the average stock in the market is much stronger than it appears.
Tags: Gann Angle Fan · Price Retrace · Value Line Arithmetic Index (VLE)
Weekend Outlook – 24Aug08
August 24th, 2008 4 Comments
Weekly outlooks shows the market not only is ready to move up now – it must it the rally is to continue.
Tags: Market Internals · Market Outlook · Nasdaq Charts (IXIC) · Price Retrace · Swing Charts · Volume
SPX Downside Target 1260 to 1248
August 20th, 2008 1 Comment
The Gann angles of the range from 2007-2008 and 2002-2007 point to SPX 1260 to 1248 as support.
Tags: Gann Angle Fan · Price Retrace · Square of Range
Weekout Outlook Continued – 17Aug08
August 17th, 2008 No Comments
Today I want to look at the various time frames of the VLE. First the long term range from 1990 to 2002. Notice how price never went parabolic as the Nasdaq did in 1998-2000. Therefore it did not really correct until the summer of 2002 when it had a nice shakeout down to the
Tags: Gann Angle Fan · Market Cycles · Price Retrace · Square of Range · Value Line Arithmetic Index (VLE)
Smallcaps Are Looking Very Strong During This Swing
August 14th, 2008 1 Comment
The Russell 2000 Index is moving up strong off the July low. Price started up the 8:1 Gann angle and have moved to the 4:1 angle. Price is now at the 50% price retrace which is a natural place for a pause.
Tags: Gann Angle Fan · Price Retrace · Russell 2000 Smallcaps · Square of Range · Volume
Agriculture Stock Near the 1:2 Gann Angle
August 13th, 2008 No Comments
The Powershares DB Multi-Sector Commodity Trust Agriculture Fund (DBA) is nearing the 1:2 ascending Gann angle at the 50% price retrace. The Ag stocks have been under pressure for several weeks and are setup to bounce from here.
Tags: A-B-C Correction · Agriculture Sector Stocks · Commodity Charts · Gann Angle Fan · Price Retrace
Price Remains Below the High of Rally Day Six
August 5th, 2008 2 Comments
The Nasdaq 100 (NDX) remains range bound after today. Price action was very positive and volume was good. The SP500 Index (SPX) swing chart action has price below the day six high – even after todays big move. I assume that the open will take out this high. But where they close them is more important than where they open them.
Tags: Nasdaq Charts (IXIC) · Price Retrace · Square of Range · Swing Charts · Volume
Bounce is One Year from SP500 Selloff Last July
July 16th, 2008 No Comments
Today is July 16th 2008 and we had a large volume up day. It remains to be seen if this was a short term reflex reaction on the 52 week anniversary, or if a sustained move up occurs.
Tags: Accumulation Day · Gann Angle Fan · Powershares QQQ Trust (QQQQ) · Price Retrace · Square of Range · Value Line Arithmetic Index (VLE) · Volume
Homebuilders Complete Bull Market Time Cycle
June 19th, 2008 1 Comment
The Housing Index (HGX) recently completed a 100% time cycle of the bull market move from 2002 to 2005. Price ended the cycle at around a 75% retrace of the bull market range.
Tags: Gann Angle Fan · Price Retrace · Square of Range
GOOG Basing at 25% Price Retrace
June 19th, 2008 No Comments
Google (GOOG) is working off the previous move in a neutral position. Price is basing at the 25% retrace line after visiting the 50% line at 1/8 the time cycle.
Today’s Market Inactivity
June 17th, 2008 6 Comments
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).
Tags: Gann Angle Fan · Powershares QQQ Trust (QQQQ) · Price Retrace · Volume
Low Volume Up Day for the Markets
June 16th, 2008 7 Comments
Today’s move was on lower volume on all indices I watch. Volume could come in later … or not. A short squeeze would kick off higher and that could bring in panic buying.
Tags: Gann Angle Fan · Price Retrace
Weekend Outlook – 15Jun08
June 15th, 2008 No Comments
This week I am going to walk through the dynamic SPX charts (available at The SPX Charts link on the right). The intent is to provide the thought process I go through to determine the status of the market.
Tags: Gann Angle Fan · Market Internals · Market Outlook · Price Retrace · Price-Time Balance · Roadmap · Slope · Square of 9
Square of 90 on SP500 Index
June 12th, 2008 2 Comments
As a follow up to a previous post on the Square of 90, I want to show an current example of the square in use. As discussed previously, the “Y” axis of price is arbitrary and time is the important aspect of the Gann Square of 90.
Tags: Price Retrace · Square of 9
QQQQ Needs More Retrace
June 11th, 2008 3 Comments
Unless this market is much stronger than I think, the QQQQ looks like it needs to move to the $46-47 area before another leg up. That could happen in one day. And could happen interday and end the day with a new high.
Tags: A-B-C Correction · Gann Angle Fan · Powershares QQQ Trust (QQQQ) · Price Retrace · Square of Range
Bank Index Near 7/8 Retrace
June 10th, 2008 3 Comments
The Bank Index is about as weak as can be. One thing that is going for it is that it is at a 7/8 retrace of the 2002-2007 bull range. This does not mean it can’t go to a 100% retrace, but usually the 7/8 area will cause a bounce.
Tags: Gann Angle Fan · Price Retrace · Square of Range
Russell 2000 Breakout
June 5th, 2008 No Comments
The Russell 2000 (RUT) broke out above the 50% price retrace that served as resistance since early May. Unfortunately, time is running out for the total market and the 1:1 descending Gann Angle sits above.
Tags: Breakout · Nasdaq Charts (IXIC) · Price Retrace · Price-Time Balance · Russell 2000 Smallcaps