$SPX Gann Angles
Here’s the linear version update today of the Gaan $SPX angle: http://bit.ly/ccRekc
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When i first eyeballed the $SPX Weekly HLC bar chart on linear, I thought it looked like one of Gann’s 1x1 Price by Time candidates - the 45 degree Gann angle. Gann theorized that these angles acted as support and then as resistance once support was broken.
It was close, but the “Best Fit” line I’ve used in the chart above appears to be slightly less then the common 1x1 45 degree angle of a perfect square. I used this angle by which to contain a 5 wave retracement if we were to see one. This exercise is probably fruitless, but nonetheless, I found it interesting to think about.
I tried the same on the the $SPX - Weekly, HLC Log chart and found the fit not as good as linear. What’s shown is just some ideas; probably some real bunk ones at that. ;-)
