The market has moved so far so quickly therefore it's time to review the Gann angles and percentages on the SP500. Once again the SP500 has bounced of a wall only to hit another wall. Yep it is trapped!
Previous posts on the same subject:
SP500 Gann Angle Review
SP500 short term cycle review - UPDATED (yep we got the bounce)
Points:
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The Gann Percentages on the SPY (SP500 Etf) are working a charm. See the 16.6% work on the down and then the up swing.
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We are back at the red bearish 1x1 Gann Angle, price action around this level Mon -Tues will be very interesting. Break out or break down are the only choices.
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The SPY 13 period cycle is very statistically significant, 7 winners out of 8, maybe a another winner next week. OEX option boys love this cycle.
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If Stocks roll over, anti correlated assets roll up (USD, TLT, DOOM[?])
Euro bearish news could strike at any time. Apparently the 9th and 19th December a big bond dates in the Europe.
And you can have another go
RTT Quote.."So far this pick is working like a dream, members had a full month to take advantage of this before the www public.Ref: Seven SP500 bear market trades that won - Number 8 trade so far so good"..
The Charts..
..and the short term cycle supports a small sell off at the very least..
Members: The SP500 has cycles between these ranges: 9-13, 19-22, 30-36,66-90. Keep an eye on these.
