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Sunday, January 31, 2010

Some Fib fan fun!!!

This is hands down, the best looking chart of the new year, the US Dollar. Now fully into the Bullish Fib fans, after saying adios to the bearish fans back in December.
Since this post is all about charts with Fib fans on them, if you are not familiar with the fans please read this post first, -All about Fibonacci fans The VIX, has broke out of the long-term bearish Fans, but is still caught up in the medium and short-term fans. One more good spike up should break her free of all the bearish fans!!!
This is the Goldman Sachs Commodity index, and it is one of the weakest indexes, breaking down below trendline support now, and being saved by a short-term fib fan.
There is a nice short-term battle going on here on the $BKX, between the Gray fan offering resistance, and the neon Green fan acting as support.
This is the German DAX, one of the weakest foreign indexes, and quite possible losing the battle to stay with-in the last bullish Fib fan of support, (Grey). The Blue fan is the bearish fan and is providing resistance.
A long term view of some Fib fans that are using the previous waves strength to set the angles for the current waves. I measured the angle from the October '07 highs to the lows of March '09, that is the blue dashed line, I set the green dashed line at the exact same angle, but only reversed and used that line as my median line to set the green Fib fans, then I did the whole procedure over again to set the blue Fib fans off of the high of 1050.

This is the same chart as the one above it, but shorter term, and with some normal Fib fans laid in.

And last but not least, the Baltic Dry Index. Binve over at Market Thoughts and Analysis did a great post on the BDI yesterday and you can read it here- This is Officer 1BDI, Requesting Backup.

5 comments:

  1. Since you like Gann you may want to look at this free software if you haven't already-www.gannalyst.com. Its pretty good stuff. You just need to be able to save a .CSV file into your computer from an outside source. I do it using TDAmeritrade/Strategy Desk.

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  2. Mike... Great charts as always. Thanks for sharing! +1

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  3. I forgot to ask, do you plan on adding charts [SPX] 6 & 7 above [from the top] to your chart book?

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  4. Douala, all the charts are in my chart book now!!!

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