The last type of gap is the exhaustion
gap. It is where the market exhausts itself. For example, in a bull market when the bear
finally gives up, throws in the towel and the market gaps up, and trades a few days up
there, then finally starts down the market is through. The market will start a major
Rule 5: Add ten years to any bottom and it will give you the next bottom of the 10-year cycle and of the same kind of a year and about the same average fluctuations. Gann was sometimes caught by inverting markets, looks like he would be selling here though.
We are 48 trading days up from the low Ganns 7X7 49 day cycle, I am only going to call markets now when price action tells me what happening. The market gapped up into a Saturn Mercury aspect that hit on Friday, we also matched the position of Saturn in degrees. Asto is unreliable and you have to have a level and a event occur together. This one was a mercury saturn and saturn was at 283.28 on the aspect.
or maybe 2334.27
Dates to watch
if any of the price targets match the times then a possible reversal is on the cards. As we are rolling off a Mercury Saturn aspect and we are at a 7X7 cycle point and the price action agrees, I had a look to see if I could line up a saturn reversal cycle with Mercury this would hit on the 24th March 2019. As the dates above are calculated in calendar time due to the contraction of the chart at the weekend dates move forward two days. As we have two weekends before the 19.3.2019 we need to add 4 days in this gives the 23rd March that would agree with the mercury cycle
To maintain confidence in this down move on the SP500 it should really trade under the 50 period MA on the hourly chart, if it trades above it the chances are the move is not going to follow through to the downside.
Alternative high 2792.51 to 2794.54 if they just can't run it up so far
2764 to 2766.27
Failure to take the top of the range yesterday and then a flat day would indicates not enough orders are here to send the market in a direction. A date I am watching is the 27-5-2019, this is a critical date for me to look for a big move as well. polarity will be easy to see as the market will head in the opposite direction to the way it is moving on this date.
Hurst, The S& P 500 is moving down nicely as you expected, thank you very much. But getting short for this down move was incredibly tricky. The S&P 500 went above the 12-3-2019 high on 2-25-2019 and 3-4-2019. The 2-22-2019 went above the 2-20-2019 high. The 2-25-2019 high went above the 2-22-2019 High and finally the 3-4-2019 high went above the 2-25-2019 high.
Was there any lesson to be learned on how to better enter a short trade after seeing so much tricky pa in the S&P?