so whats everyone here thinking about the US equity market? Dow or SP500
I'm reading the freebie stuff from gann global - his latest comment is :
Today’s trade in the S&P 500 and Soybean complex have not
compromised the integrity of our forecasts or our trading patterns
for potentially entering short positions.
Rather, they have increased oth the probability for dramatic declines
if the reversals take place and the likelihood the overall declines
will be more extensive.
From what I've been reading his take is that a break thru 922 will demonstrate a decline is underway and to short at 916 (presumably that will be confirmation)
Seems to be a pretty common viewpoint in that I read it somewhere else as well.
the butterfly pattern I posted ages ago has potentially played out now. but from a pattern view there always remains the possibility of a lot more and which one should position oneself for , on the other hand theres a lot of indecision showing in the candles on the daily, and divergence on the rsi. also looking a bit triple toppish.
so i guess we let it tell us.