1. Market high here on September 8th 2017.
2. Gann had important cycles for time. And have the confluence of a number of them here just jamming into each other.
a. 270 day cycle - from the most important low on Jan 3rd, 2017.
b. 90 day cycle - from a swing low
c. 60 day cycle - from a swing low
3. We also have a new moon, which according to Gann theory says that there is a high probability that minor trends and major trends will show market highs.
The most important part of this short bias is based on the 270 cycle. Gann said that generally market tops at or near the 270 cycle will show a reverse 90 day cycle to end the year. When we have a confluence of many of these cycles, we get a very powerful bias for some downside momentum. More interesting is that today was the end of a 30 year cycle (one of the Master Cycles) with the anniversary cycle of the 1987 crash.
Gann was convinced that time was the most important factor and if this is true, then we should see some powerful movement to the downside. More interesting than that though, was his firm belief that major events in the world are slaves to these time cycles. In other words, news is not a causation of events, but a casualty of the influence of time.
2. Gann had important cycles for time. And have the confluence of a number of them here just jamming into each other.
a. 270 day cycle - from the most important low on Jan 3rd, 2017.
b. 90 day cycle - from a swing low
c. 60 day cycle - from a swing low
3. We also have a new moon, which according to Gann theory says that there is a high probability that minor trends and major trends will show market highs.
The most important part of this short bias is based on the 270 cycle. Gann said that generally market tops at or near the 270 cycle will show a reverse 90 day cycle to end the year. When we have a confluence of many of these cycles, we get a very powerful bias for some downside momentum. More interesting is that today was the end of a 30 year cycle (one of the Master Cycles) with the anniversary cycle of the 1987 crash.
Gann was convinced that time was the most important factor and if this is true, then we should see some powerful movement to the downside. More interesting than that though, was his firm belief that major events in the world are slaves to these time cycles. In other words, news is not a causation of events, but a casualty of the influence of time.