SP500 Review with Gann Angles
The market has been smashed, down 16%. But has it stopped. Wyckoff fans need a base to see some sort of accumulation to prove that some buying is going on. But not yet. The sell off needs a few months to heal and prove that strong support has been secured.
Wall Street wants QE3 to push up asset prices. They also know they wont get it until a few politicians are scared sh*tless. So I suspect the market will be sold down to SPY 100 and then wait for the screaming to start. Sept and Oct 2011 will be very interesting.