Thursday, November 8, 2012

S&P 500 Update

Weekly Chart


geometric fan lines from October and June lows.
  • 45* = 1pt:1day
  • 36* = 0.726/day
  • 30* = 0.577/day
Gann 180-360* from September peak 1474.52
  • 180 : 1398.71
  • 360 : 1324.91
  • 540 : 1253.11
  • 720 : 1183.32



Daily Chart 

  • Square BCDF is based on AB. ( BC = AB)
  • 2x1 from A is converging on 1x1 from B
  • Circle radius CB is containing price levels since market broke CE (2x1)
  • breaking below 1350 without a bounce would be very bearish and may lead to significantly lower prices sooner than later.

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