My sentiment charts are showing a possible bounce on or after August 24th (Gann Cycle date). We may have one more down day tomorrow based on sentiment chats. If we don't break 1398 tomorrow, possibility exists for another attempt to break 1422 (**correction 1419 close)
That brings us to August 30th the next Gann date. SPX/VIX ratio is still above 80 and 16 trading days increases the probability of turn. So if we don't break 1398 tomorrow on Gann date, then heading into August 30th is where I will load up on my short position to swing. August 31 is Jackson Hole Meeting of Feds.
NYMO
NYAD
OEX (bounce as early as August 24th)
Avg Sentiment
Happy trading!
Saw your comment on Cobra and checked out your blog. Very interesting. Have had interest in Gann - look forward to following you on regular basis.
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