Bottom Picking - A Date with Disaster..IMHO Gann's Swing Charts...

Bottom Picking - A Date with Disaster..
IMHO Gann's Swing Charts ARE the best indicator for trend (not that any current chart could be considered doubtful).
The trend is your buddy .. I got mauled in the past attempting to buck the trend.
Don't guess the thing. LET THE CHART TELL YOU.
1 Day trend = DOWN
2 Day Trend = DOWN
Weekly Trend = DOWN

In 32 Calendar days we have had a total of only three one day only counter trend bars. Not since 1987 have we had such a strong down trend.

Where does it stop - look to the past for some sort of GUIDE. Both 1987 and 2009 were down about 55%.
Will it pull up there?
Dunno!
Maybe 56 days might see a decent rebound or maybe tomorrow.

Unless you are day trading, only when the swing chart tells you the trend has changed should you venture long positions. As Red said in his weekend report. This market is for traders only.

Hey Voltaire, nice to see you are still about and offering your vast experience.


Cheers
Woohoo