Homework for Tuesday 2008.12.23

23. December 2008
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ES - This is a summary of Tuesday from a Gann perspective.  This is today's chart filled in, continued from the chart in yesterday's HW.  I tried to make it as confusing as possible. ;]  If you can follow it, this is really mind-blowing.  The Gann fan lines are still there from the previous pivot high (downward sloping, light gray lines).  With the addition of a measurement taking from yesterday's low (bottom left of the chart).  As mentioned in the chart from yesterday, we were pivoting on the 90° line, moving 30° lower (to 120) and 30° higher (to 60) before yesterday's close.  In the overnight action, we pulled back a little more, to the 45° line (876.75) and then fell back to the "center" at 90° (962) to complete the cycle, as noted in yesterday's HW.  After hitting that 90° line we swung up, then swung down a similar distance, all contained within the gray Gann fan lines.

One interesting thing to note, the distance from yesterday's swing high pivot and the swing low from this chart is 38 bars. 38 bars from that swing low is the exact peak before we began the fall of today's action (the bar that crossed the 45 line a second time).  Another 38 puts us at 3:30 EST tomorrow morning.  We will see if anything significant happens there.

Ultimately we closed at the 858.25 line from the daily chart, as mentioned in the previous HW. 

Homework, Lesson

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