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GEOMETRIC PATTERN ANALYSIS:
for the
Nasdaq
100 "Proxy" (QQQQ) on 2/6/2006
A
graphic showing the "most current" Gann Analysis for the Nasdaq 100
Proxy, 4Q's, is shown in the graphic window below.
As you can see, this "very important" market index is STILL
in a Bull verses Bear battle to "hold" above the "critical" 2:1 Gann angle,
in monthly scale of one point per month, "coming up" from the last
"major low," near 10/2002.
Furthermore, this index is also "approaching" the other "key"
Gann angle, which is also a 1:1 angle in monthly scale "coming down" from
the all time high (ATH), made in 3/2000...or 9/2000?
By the way, as far as W.D. Gann was concerned, the 3/2000
high was "the top of a major change in trend," but he would also have acknowledge
that the 9/2000 high was an "important CIT," and he would have tracked both
angles down, eventhough, he would have clearly placed more weight on the
angles from the 3/2000 ATH.
IF we follow his methods, exactly, then we have to say that
"the odds are still about 50:50 of a break up or a break down from here."
However, IF QQQQ falls below that 2:1 angle up then the odds turn bearish,
and IF the index value comes back up and gets "faded" hard, slammed with
volume, at that angle again, from below this time, THEN it's "extremely likely"
that Mr. Gann would have either went deep short this index or at least moved
to a neutral position.
Of course, Mr. Gann is no longer with us, so we can only
apply his methods and decide for ourselves.
By the way, IF the 4Q's were to "suddenly" break up through
that 1:1 angle, "coming down" from the ATH, THEN what would that tell
the Gann traders about this market? HUM?
For subscribers to the Price-time Review, this graphic is posted
here only in "support" of, and/or as an example for, comments posted on
other Market-View postings, and any "assumptions" being made based on it
should only be done in conjunction with the page and comments that it
supports.
All non-subsribers need to be aware of the fact that
the charts and analysis shown here are only a small part of a
larger process, and they are displayed here for educational purposes
only and are not a recommendation to buy or sell any security.
Descriptive comments, if any, are either
on the graphic or in the block below it.
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COMMENTS (IF ANY):
1/27/2006: NOTE THAT this index
got another "bounce" off the key 1:2 angle, on 1/3/2006, when that angle
was at 39.0 and the index "touched" 40.
AS long as this hangs above that 2:1 angle, up from below, the GANN traders
are saving it's hide.
HOWEVER, also note that Mr. Gann's Square of 9 target is also at 41.5 +/-1
AND if it breaks up it will run right into the 1:1 angle coming down, which
is now at "about" 44.
While this could easily flip either way, my opinion of what is "most likley"
to occur from here to the major 4-Year Cycle low, and then into 2008, is
shown by that Elliott Wave Count.
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For The Price-Time Review
Andrew Quiggly
Editor
All content is copyright(2005)
PriceTime LLC
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