Introduction
In last week’s post we discussed the 49 degree panic I believe last week was experiencing. You can find the updated chart below.
You can read more on this chart in last week’s post. As explained last week, the above chart also contains an idea to find square outs in price and time on the square of integer or natural numbers. I have added the links (looking at weeks) to the first 7 squared natural numbers. The number eight (64 weeks (8x8) is due December 12th 2022 from the lows of September 20th 2021.
Last Thursday I posted an update on the DJIA regarding an interesting point in time and price the DJIA was approaching on the decline of this “panic”. This may be long term support from early 2009 that may give support for sometime. But the channel the DJIA seems to be trading in may be of a magnitude that if the market at some time will go through, it may probably be of another significant decline.
Each week we update the S&P 100 stocks in this post that are expecting cyclical turns in the next few weeks. Todays analysis showed that the momentum since last Friday for some of the S&P 100 Index stocks have improved slightly. The overall sentiment is however still bearish, but I see many stocks in overbought territories.
The paid subscribers can read further from here on the above analysis in more detail and where we expect possible support in the next few weeks. In this post you also find the latest Gann Master Cycle dynamic updates for the DJIA, the S&P 500 and the Nasdaq Composite.
Hypothetical or simulated performance based on past cycles have many limitations. Cycles can contract, extend and invert. Anomalies can occur. Hence, past performance is no guarantee for the future. No advice. Read our disclaimer.