The Big Boys, page-807

First 807 Last

Share
Profile

Follow
CaptainGrumpy

4,594 Posts.

177

12/12/16

13:19

Post #: 21272879
Share

Originally posted by Orwell ↑

DJIA Gann Fan

I'm not expert on use of Gann Fan lines, but have been tracking the Dow against a fan set on the 2009 low and posted on this 16th July 2016, which is worth updating.

One of the concepts of Gann Fan lines is that price tends to unfold along particular lines which act as support (or resistance) and once it breaks through will move to the next fan line.

The Dow has moved quite well between lines on the weekly chart with highlighted touches in yellow below.

I found it particularly interesting after expecting the Dow to peak at the Olive 1 x 3 line back in August based on a number of targets clustering there. It pulled back short of this so I thought maybe the fan wasn't valid. However, it's now spiked back up to the Olive line and should coincide this week at potentially Dow 20,000 and at the same time as US Fed interest rate decision. Will be quite extraordinary to me if this turns out to be the market top.

I have some other analysis that provides for a pullback to now support around 19162 level and some higher targets. So a couple of scenario's are reasonable technically. Nevertheless, we seem to be in the final topping stage, just not clear when and what level. The Gann Fan gives one strong scenario.

View attachment 374246

Expand

While we are looking at chart patterns we are not experts in, but seem to make sense. Nasdaq Monthly back to 87 crash. Quite amazing how many levels have been respected. 3-4% upside left?

Last edited by CaptainGrumpy: 12/12/16
3 Upvote

0 Great analysis

Reply

Top Stories

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Week 47 Wrap: HotCopper users' most watched; Brent lifts on Putin's scary letter; RFK dents CSL

HotCopper Highlights: Your most watched stocks for Week 47, 2024

LPE

Sales growth pushes Lovisa's fortunes (and shares) upwards

DUI

Panic, paranoia, and gangland politics: HotCopper users react to Dubber's missing $26M

PYC

Scientific conference spotlights PYC's work on blindness disease treatment

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

SIG

Dale Gillham's weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse

There are more pages in this discussion • 189 more messages in this thread...

First 807 Last

Add XMD (ASX) to my watchlist

(20min delay)
Last 10,423		Change 120.300(1.17%)		Mkt cap ! n/a

Open	High	Low
10,302	10,456	10,302

XMD (ASX) Chart

The Big Boys, page-807

Top Stories

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Week 47 Wrap: HotCopper users' most watched; Brent lifts on Putin's scary letter; RFK dents CSL

HotCopper Highlights: Your most watched stocks for Week 47, 2024

Sales growth pushes Lovisa's fortunes (and shares) upwards

Panic, paranoia, and gangland politics: HotCopper users react to Dubber's missing $26M

Scientific conference spotlights PYC's work on blindness disease treatment

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

Dale Gillham's weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse