JK5, WDGann said ( and I am no expert on his teachings, nowhere near in fact ) said that time was more important than price, so yesterdays reversal only occurred once the time was right.. for example, yesterday was 310 weeks (2x155, youve probably seen me and Voltaire banging on about this pyramid number ) from the 10/10/2002 DOW low and also 288 weeks (2x144 Gann number ) from the 13/3/03 XAO low,,144 trad days from the 22/1/08 XAO low , 45 calendar days from the 5/8/08 low etc etc. There were so many "hits" for yesterday,it was impossible to ignore, hence my thoughts that it would be a low.
Whyme2 does it a different way as do Robbbbbbbbbbbbbb and Voltaire.
As the trendline held, I suspect there may be some more upside, then a reversal coming down into the 1st week of October, but it will be a higher low imo, ie we wont be going lower.
hope that helps a bit
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Last
8,580.1 |
Change
-9.100(0.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,589.2 | 8,619.8 | 8,568.2 |
| XJO (ASX) Chart |