Courtesy of Read the Ticker.
Which way for the Dow?
The red line is the Gann 1×1 angle or 45 degrees, it is not a trend line, it is an angle of time and price. The red line shows price is moving up (or down) with equal units of price and time, at the moment the Dow price is meeting the 1×1 Gann angle pace, very good for investors.
We know as Wyckoff students serious sell offs normally start near or over upper resistance levels (ie UTAD, UT a bull trap) and not near support, therefore expect a challenge of 26,250 or even a new high, then be on your toes for what may come next. High volume down bars would be a sign of massive supply and danger for the bulls.
Ideal for the bulls would be a mild break of 23,000 (ak a bear trap), then a sharp rally higher, this would be better as this type of action sucks in the shorts and when they realize they are caught in a trap they sell their shorts and buy which is more demand to fuel the Dow to 30,000. This is the better bullish play.
Of course a sell off down to 22,000 is not a bear trap, this would suggest a start of a bear market.
Based on Fridays (4th April 2018) action the path of least resistance is higher, however watch out for the bull market trap above 26,250.
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Sure fundamentals do matter, and so does market timing (entry, stops and exit), here at readtheticker.com we believe a combination of Gann Angles, Cycles and Wyckoff Logic is the best way to secure better timing than most, after all these methods have been used successfully for 70+ years. With our website you can chart any security in the world.
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…
..” If you cannot make money out of the leading active issues, you are not going to make money out of the stock market as a whole”..
Jesse Livermore Trading Rule
..”Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it”..
Warren Buffett
…“To me, the ‘tape’ is the final arbiter of any investment decision. I have a cardinal rule: Never fight the tape!”…
Martin Zweig
..“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
…“People somehow think you must buy at the bottom and sell at the top to be successful in the market. That’s nonsense! The idea is to buy when the probability is greatest that the market is going to advance”…
Martin Zweig (The inspiration behind a number of Martin Zweig’s methods came, from Jesse Livermore).
