Here's the latest update on the Gann Charts of the All Ords and the Dow Jones.
Frankly, both charts are not too exciting. Both appear to be resuming the upward trend. Not only that, both looks like they are placed well between two Gann angles, that is, they do not appear close enough to any of the angles to signal a potential reverse in trend.
For the All Ords, the pattern in Nov-Dec 2009 seem to be strong beginning signal of a major correction - but that turned out to be a very minor correction instead, more like a blip. This hardly registers in the Dow Jones chart which covers a longer time period.
So where to next? Well some say it will be a strong recovery year in 2010. Others say it is poised for major corrections due to the end of stimulus and the effects of huge government debts. So what to the charts say? In a very boring fashion, it looks like its going up, up, up.
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