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Hey, this is just a please please don’t forget me post. 🙂 And don’t get me wrong, sharing info make me happy therefore I’d like to share, but it doesn’t mean if I agree or disagree. Enjoy your weekend!
I’ve got my friend’s (uempel) permission to publish his thoughts bellow. I don’t quite understand the Gann method just I’m glad that he’s calling at least a 5% pullback. Again, forecast is trying to run before the market, but the actual trading should always let the market go first. It’s OK to bet a little on the forecast, but the most important of all is: NEVER EVER AVERAGE DOWN!
This evening I looked at the SPX very closely. I cannot believe that this is not the top for the next week, fortnight, month. The pattern shows all indications of a top. I have read so much in the papers and in blogs about the 200-day-MA and 940, that these targets have to be ruled out: too many people/funds investors/funds ready to go short at 940/200-day-MA, so the target loses it’s validity. Following Gann 905 could also have been a high, but now it’s going to be 930...