the downward spiral of death appears to be continuing into the open today (tuesday). our gann system positioned us nicely to profit on this move. holding shorts here--but as stated yesterday, be READY FOR ANYTHING ! our cyclical studies are indicating a "disturbance" of sorts in the capital markets shortly.
closed all shorts in dow and nasdaq @ 10 am thursday. we rode this wave as far as possible and took nice profits. the current neogann wheel nasdaq channel is 1277 to 1213. we will be shoring sub 1213 and going long above 1277. still calculating next dow channel.
the nasdaq churned nicely within the gann wheel channel on thursday. 1213 to 1277--- it is CRITICAL that one stays flat in this channel--the market is searching for direction. the dow channel is currently 8203 to 7897--same rules apply with the dow 306 points of death zone. paitence is key.
the nasdaq dropped touching our horizontal "go short" line at 1213, dut did not break it by the systems 3 minute parameter rule. rather amazing that the wheel picked this figure last week as support (lower channel figure). if anyone has any interest there is an interesting bio-brief on gann in the latest "TA of Stocks and Commodites" magazine. staying FLAT here
oh yeah, system placed us short in the nasdaq when the lower channel figure was violated. we entered the dow short , was stopped out of the first entry sub dow channel, reentered and caught a very nice move down. holding shorts here.
Originally posted by marketsurfer oh yeah, system placed us short in the nasdaq when the lower channel figure was violated. we entered the dow short , was stopped out of the first entry sub dow channel, reentered and caught a very nice move down. holding shorts here.
