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Friday, March 29, 2024

Dow Gann Angle Update

Courtesy of Read the Ticker.

dow-gann-angle-updateLook away every thing is normal, the market is not going to crash (ya hope)!



A great feature of Gann Angles is that you draw from only one point on the chart and not two points like trend lines. This allows the chart reader to review units of time to units of price, which is excellent for comparing charts. Dow Jones Industrial price has returned to the master Gann Angle trend after a 12% or so correction last year, holding the solid red line (GANN 1×1 or 45 degrees) will be critical.





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INDU GANN


The rather fast recovery since the US elections should remind chart readers of the pattern below, no chart is immune. Maybe the sell in May and run away should be considered.





Tower








NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net



Investing Quote…



…”There is what I call the behaviour of a stock, actions that enable you to judge whether or not it is going to proceed in accordance with the precedents that your observation has noted. If a stock doesn’t act right don’t touch it, because, being unable to tell precisely what is wrong, you cannot tell which way it is going.”…



Jesse Livermore





Unless you can watch your stock holding decline by 50 per cent without becoming panic stricken, you should not be in the stock market.



Warren Buffett





..”It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong”..



George Soros







..”Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway”..



Warren Buffett





..“Because of the extreme challenge, one must commit full attention to it.” Market speculation is “no different than trying to be a successful doctor or lawyer … you simply must devote yourself full-time to the study of your craft”…



Bernard Baruch







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