The COVID-19 Black Swan has become an unprecedented event for global markets. How have the methods of W. D. Gann held up? We don’t do this often….but below we’ve copied you in on our downrange price targets/bounce prices that went out to “Magic In The Markets” alumn and Empire Newsletter subscribers in advance of the market legs in this down move.
Since November 22nd, 2019, the Arcana has been forecasting down energy into March. But the forecast was up. A blow off high identified with the potential to return to the SP 500 price on November 22nd, 2019. But no one could have predicted the severity of the slide.
So with a down energy and a technical uptrend in the market, its a mixed bag. Targets on the way down were exits for shorts and buys for quick 100+ point bounces.
From a strong technical uptrend, usually each year you will only get 1 or 2 extreme Law Of Vibration pullback price projections to buy. After the price breaks through the 50 month moving average or 20%+ from the high, the bounce buying energy dries up, and you start to look for the absolute bottom.
For added confidence, we combine Gann’s Law of Vibration extreme price projections with Gann’s Range Finder. Of course we also use Fibonacci and some other technical tools. On February 27th, we reiterated the first extreme LOV price projection was 2,981. After we hit it on a day’s close (Gann’s sign it would not bounce,) we knew the next projection was the blow off low price of 2,872. There was also the first crude low and bounce projected. The following day they both popped. As an FYI- updates with ongoing value for our subscribers and details on the Gann techniques used are blacked out for proprietary reasons.
