Big-picture views of financial markets with Gann analysis: Andy Askey

Gann analysis is sometimes a method that Elliotticians and other market analysts borrow from, whether they recognize it or not. So, remember to look in on Andy Askey's Gann work at his site, Price Time Volume Investing — Stock Market Cycles, Gann Angles and Squares, a site always included in the sites list at right (http://ptv-investing.com/blog/).

Apprently he's focusing on December 24 as an important date coming up - His big-picture look at the SPX in last weekend's post, Weekend Review - 29Nov09, was so interesting I'm going to post part of it as a quote below:

The SP500 index (SPX) roadmap I have been tracking for several years ... . The 218 day cycle which worked since 2002 did not greatly affect the market in May and October so this energy may have been overcome by a stronger cycle wave. December 24th is the next cycle turn and I don't plan to be long much going into this date.

The 2002-2007 Gann fan range of the SPX show price butting it's head against the 1×1 angle. As a general rule, this angle should provide significant resistance to a tired market. The bounce itself remains at the four times slope line which is strong if taken stand alone. But the fact that the market tanked below the 2002 low before the bounce puts the "strong" move into context. Price has not even retraced to one-half of the 2002-2007 range yet.

You'll want to read the whole thing Andy posted, including seeing his Nasdaq chart. Plus see what else he posts there from time to time, including not only equities but also occasional swing views of other markets.