Daily Murmur 22/02/11

by Gary Glover

CRB Index and The Dow Jones are showing possible gann timings of major high

CRB and the Dow Jones are running into a blow off type of exhaustion pattern.  With three ascending trendlines over the longer term horizon establishing themselves the trend is at risk of exhausting into a peak.  These sort of moves normally get vertical in nature and when looking at possible time horizons we use some of the normal gann timing cycles. 
Most blow off style of exhaustive trends end with a 90 day vertical move into a high so the CRB Index has done this recently and shows possible timing of a high 21/2/11 (plus one or two days) and the Dow Jones Index 25/2/11 (plus one or two days). 
We need to be wary of a possible high for both of these markets in the coming days.


Gary Glover is an Authorised Representative (Rep No. 259215) of Novus Capital Limited ("Novus"). Novus is a holder of Australian Financial Services Licence No 238 168. Novus, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this page or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter.

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