Gann INSIDES weekly MARKET UPDATE
“SUMMARY”
the week gone by was a normal week for INDIAN MARKETS where NIFTY and BROADER MARKET cooled off their highly oversold technical reedings post recovery from Wednesday’s LOWS! but for U-S-MARKETS it was yet another week of fresh record highs which marginally accelerated the rally post FOMC meat!
this week our focus would be on global MARKETS specificlly on U-S-MARKETS and other risk assets like BITCOIN and GOLD.
next week we have LUNAR ECLIPS on MONDAY which is a key development for all FINANCIAL ASSETS let’s discuss on that below.
the (LUNAR,ECLIPS) this MONDAY could gradually Phlip the narrative from extremely optimistic to extremely pessimistic. but that would take TIME for atleast some days.
ECLIPSES are always very strong COSMIC EVENTS which brings notable changes on MARKET trends.
unfortunately many analysts over the years have failed to acknowledge the role of an ECLIPS on overall MARKET analysis.
people have always looked for an instant reaction to conclude the impact of an ECLIPS but in reality it takes around 2 to 3 weeks of TIME before we see that VIBRATIONAL impact to reflect on PRICES!
as human beings we always lack that patience to wait until complete impact of an ECLIPS is reached.
if you go and check any ECLIPS post 3 weeks we always would get a MARKET REVERSAL not only on PRICE but also on sentiments and narratives as well!
No need to go much far just go and check what happenned post SOLAR and LUNAAR ECLIPSES of OCTOBER 2023
always remember these ECLIPSES historiclly have always occurred before significant trend shifts.
prepare for one such trend shift in next few weeks which would have its IMPACT till SEPTEMBER of 2024!
“UPDATE on NIFTY”
Nifty Setup is very much simple! On thursday I shared level off 22,150 as an ideal rebound level in a normal sinario! and on FRIDAY MARKET easily achieved that! things should get really intresting from tuesday if NIFTY have ended its recovery at fridays high then next week it should break level of 21,840 on downside once that break short term PATTERNS would trigger fresh breakdown for target objectives of 21,625 and 21,400 on spot!
Note 21,600 is a channel support on weekly charts! Once that breaks on a weekly closing basis then this entire advance from OCTOBER 2023 lows would officially come to an end how much low it can go post that conformation is something we shall discuss some other day! As traders we shall approach things one step at a TIME!
“KEY LEVELS to watch on S&P;500 “
S&P throughout last few days successfully defended the level of 5050 which we were discussing as a final support a break of that would certainly signal the end of this entire advance which started from OCTOBER 2023! need to have patience until that breaks!
On MONTHLY charts S&P have entered in a very strong GANN ANGLE resistance zone currently these monthly ANGLES are placed in zone of 5250-5350 if INDEX stays under 5350 going forward and breaks the intraday low of 18th,MARCH on a closing basis then that would signal a TIME CYCLE REVERSAL because 18th,MARCH was a “PRICE TIME SQUARING DATE” for S&P we discussed on this in past week as well!
On TIME front next week 27th and 28th MARCH are going to be very important ANNUAL CYCLE dates for not only S&P but for all U-S-INDICES!so expect some sharp moves on these dates!
until one of the above criterias are met INDEX can continue with it’s current consolidation at highs!
“BITCOIN”
Over the last few years, digital currencies and , gold, have become decent barometers of speculative investor appetite. Such isn’t surprising given the evolution of the market into a “casino” following the pandemic, where retail traders have increased their speculative appetites! Of course, it is not just a speculative frenzy in the markets for stocks, specifically anything related to “artificial intelligence,” but that exuberance has spilled over into gold and cryptocurrencies!
Technically BITCOIN have an important support at 60,000$ on downside once that breaks we could get BITCOIN below 45000 in next few weeks! if 60,000 breaks then MARCH 14th high could hold for next couple of years! do watch out very closely!
Unfortunately, for individuals once again piling into Bitcoin to chase rising prices, if, or when, the market corrects, the decline in cryptocurrencies will likely substantially outpace the decline in market-based equities. This is particularly the case as Wall Street can now short the spot-Bitcoin ETFs, creating additional selling pressure on Bitcoin.
“GOLD”
Gold was supposed to be an inflation hedge. Yet, in 2022, gold prices fell as the market declined and inflation surged to 9%. However, as inflation has fallen and the stock market surged, so has gold. now when STOCK MARKETS are expected to turn lower would GOLD be able to continue with its BULLISH momentum?
Technically 2225 high is a good enough resistance which shall hold but as long as COMEX GOLD holds 2100 on downside things are likely to stay fine for now! Once 2100 breaks we could get GOLD towards 2030 and 1960 in next few days! TIME wise 2nd half of APRIL is going to be very critical!
would leave it here for now wishing all reeders a colorful festival greetings from me and my team.
gann,insides 