Gann Master Cycle - Aug 5 2022
$DJIA, $SPX and $NasdaqComposite trading in a Tunnel Thru The Air
Introduction
This week I was looking at the US Indices as if they were flying through a tunnel through the air. Perhaps this is cryptical for many of you, but if you plot planetary lines on your chart they seem to form a tunnel through the air. Often these planetary lines are forming support and resistance and at the crossover in times you may expect a change or reinforcement of a trend.
W.D. Gann wrote a book called The Tunnel Thru the Air, in which he hid a lot of knowledge regarding the way he looked at the commodity/stock market.
The name of the book indicates the importance of these planetary lines. In this weeks update on the Gann Master Cycle I am looking at the possible support and resistance zones using planetary lines placed as a layer upon the charts as additional information.
The main US Stock Market during last week kept on following the Gann Master Cycles for the DJIA, S&P500 and the Nasdaq Composite. We expect the current rebound from June 2022 may not be over yet and the stock market may be trading a wall of worry into mid of August - mid of September 2022. The UVXY - VIX Short Term Futures ETF short term futures analysis I made last week suggests the current uptrend may not be over yet. Premium subscribers can read this article here.
Of course intermediate corrections may occur on the current trend we are in and cycles can contract, extend and invert.
The paid subscribers can read further from here on the latest Gann Master Cycle dynamic updates for the DJIA and the S&P 500 as well as an update on Nasdaq Composite following the 49 year cycle. We added a weekly update on the S&P 100 stocks that are expecting cyclical turns in the next few weeks as well.
Hypothetical or simulated performance based on past cycles have many limitations. Cycles can contract, extend and invert. Hence, past performance is no guarantee for the future. No advice. Read our disclaimer.