Seems a good chance of the top being in for the SPX. I recall...

Seems a good chance of the top being in for the SPX. I recall someone here quoting Gann as saying that if the market makes a high in January that it is unlikly to be exceeded. I'll try to find the quote myself a bit later.

This chart might not be worth anything but if two weeks are used to define a swing then the index has not exceeded a previous high or printed a higher low since the start of the bear. The same can almost be said for the XAO except that the May '08 high exceeded the Feb '08 high by about two points.