Will we have to expect the Dow Jones high on the 55 day of the exhaustion move?

If so, the final high might happen as early as tomorrow which is going to be the 55th day of the actual up wave. Last week, the YM # contract - the Dow Jones e-mini performed exactly as prognosticated in the last issue. Immediately on Monday, the up swing continued. Further, last Friday besides the Dow Jones all the other important American stock markets produced marginally higher year highs.

The actual situation: In the daily 3 Candle GUNNER24 Up Setup we are narrowly at the main target where we may always expect a change in trend. The primary Gann Angle that is marked in the chart is giving the up move time. Last Monday and last Thursday that Gann Angle was tested for the second time and for the third. In each occasion the price was rebounded upwards impressively. According to Gann, the forth test should cause the final break of the primary Gann Angle. Monday is expected to become the 55th (important Fibonacci number) day of the exhaustion move. That's why we can expect a “natural and important” high.

Target 1 is the lower line of the 5th double arc at: 11166.

Target 2 is the upper line of the 5th double arc at: 11200

That is why our last issue estimate remains valid:

“If the 5th double arc is touched we should go rapidly downwards again, anyway. If the 5th double arc is broken upwards we will go long again on daily basis.”

Zooming into the 5 Candle Elliptical GUNNER24 Down of the NQ # we presented repeatedly, we ascertain that the price has captured the broken red diagonal impressively, is now in the gray acceleration sphere going on following the 4th double arc upwards like clockwork. The broken orange important time line is temporally limiting the exhaustion move to the 05/05/2010. That means, until that date the double arc is going to offer support!

Having just a look at the NASDAQ-100, a target of until 2142 is quite likely to be next on the agenda...

Looking at the actual weekly 8 Candle GUNNER24 Up of the NQ # contract we realize that the next target at 2290!! was activated by closing the last candle within the main target - the 3rd double arc! The obvious target for next week is going to be the price and time magnet at 2093, just where the upper line of the 3rd double arc meets the Gann Angle that is lying above the price.

The precious metals gold and silver are producing strong break out signals.

You have been familiar with our estimate of gold for a long time - strong buy with target 1320. Please, check for that among other things the penultimate issue of the GUNNER24 Forecasts of 04/11/2010.

In the daily setup we prefer, the gold has resumed the upwards trend generating a strong buy sign on Friday closing. 

The situation: The 2nd double arc is broken also taking into consideration the lost motion. The 1165 is looked upon as the next strong hurdle where on Monday or Tuesday I expect at least a stop or a little reflux. Not before the 1165 will have been broken there will be a lift-off with target 1203!

Silver:

In the actual daily GUNNER24 Up Setup, silver has not broken the 3rd double arc yet. But the break is announcing itself very strongly since for Monday we can expect a strong upwards day which should break that 3rd double arc significantly.

When on Monday the 3rd double arc will have been broken what I assume the next obvious target will be the 19.35.

This target is corresponding with the next target in the weekly time frame.