Bottomed Out..... - Tuesday, page-44

Hi Sand_y_ash and GJ2b41(@Sandash & @gj0201)  ... some interesting L/T(Monthly charts) postings by you two, here and on the Weekend thread, for XJO and XAO got me looking for further 'clarity'(using a Quarterly Log_chart) myself ... NOTE: I rarely look at either these days as my "time_frame" is much shorter(volatility!) BUT 'found' some interesting things by using simple Trend_lines and Gann retracements.

The red trend_line highlights the significance of our most recent bounce level; a breakdown below that would mean the 1st time since it 1st began(1981). The other thing to note(or may some will question) is that I'm taking the Gann retracement range from the 1200L(1199.8 Jan.'91L) and not the 1988L as a start point because that swing low I see as the completion of an ABC correction from the 1987H BUT also as it represents the level of the lowest Weekly close after the '87 crash(1199.2 on 12Feb. 1988 ).