{"id":204,"date":"2011-12-05T17:11:01","date_gmt":"2011-12-05T16:11:01","guid":{"rendered":"http:\/\/www.futurestechs.co.uk\/blog\/?p=204"},"modified":"2011-12-05T17:11:01","modified_gmt":"2011-12-05T16:11:01","slug":"ftse-to-1737-eurozone-woes-wd-gann-and-a-bit-of-a-rant","status":"publish","type":"post","link":"https:\/\/www.futurestechs.co.uk\/news\/2011\/12\/05\/ftse-to-1737-eurozone-woes-wd-gann-and-a-bit-of-a-rant\/","title":{"rendered":"FTSE to 1737? – Eurozone Woes, WD Gann, and a bit of a rant!!"},"content":{"rendered":"

So will it all get sorted this week? Can we enjoy Christmas safe in the knowledge that Merkel and Sarkozy have made good the Eurozone crisis, and that 2012 won\u2019t be an annus horribilis for all of us?<\/p>\n

If, like me, you read the Sunday Times yesterday you must have (like me!) struggled to get out of bed this morning, because what\u2019s the point??!! Goodness me, I\u2019ve never been so depressed on a Sunday. Well, not since West Ham got relegated last.<\/p>\n

But get up this morning I did, as the loyal customers of FuturesTechs expect their daily slug of chart talk.<\/p>\n

Another reason to want to stay in bed today is the busy week I had last week, which included 3 days \u201cup north\u201d visiting a chap called Fred Stafford who runs a company called Gann Management Ltd. Their website is www.gann.co.uk<\/a>. Fred is one of the country\u2019s most experienced (and I\u2019ll also now say most vociferous and interesting) exponents of the work of WD Gann, the legendary Investor and Technician from the early part of the last century. Gann\u2019s name will live long in the annals of TA as a \u201cfounding father\u201d of modern day Technical Analysis along with Charles Dow and RN Elliott.<\/p>\n

Fred\u2019s analysts suggests that the market is due a big drop, and he talked about a target for the FTSE of 1737 (yes, you read that right, 1737). This seems like one of those \u201ccrazy\u201d calls that I often say are ridiculous, let alone irresponsible. Until I read the Sunday Times, that is, then it all seems to make sense.<\/p>\n

But I\u2019ve done a bit more reading this week as well. I am a keen reader of books on Technical Analysis and am becoming increasingly interested in it\u2019s history. The Society of Technical Analysts store a huge number of books at the Barbican Library in London for their members use, and I drop by there whenever I have a spare hour or two in the City. Last week I had such a window so headed to the Barbican and straight for the Gann books. Below is an excerpt from \u201c45 Years in Wall Street\u201d, one of the books I found there. It was referring to the crash of the 1930\u2019s.<\/p>\n

\u201cEvery time stocks made bottom, the newspapers, government officials and economist said it was the last bottom, but stocks went down, down down\u2026 They went lower than anybody dreamed they could go. People believed that the Government, by buying cotton, wheat and loaning money, could stop the depression, but once a cycle is up and prices are due to decline, nothing can stop them until it has run it\u2019s course\u201d.<\/p>\n

I\u2019ve long said that the best way to resolve a crisis is to \u201clet it run it\u2019s course\u201d and that whatever the politicians of the world attempt, it\u2019s not going to stop it. I always try my best to avoid making \u201cbig\u201d calls, especially about governments and policy and the like (funny-mentals, as I call it) but it seems that my \u201cviews\u201d are pretty well aligned with Fred\u2019s and his Mentor, WD Gann (and David Smith at the Sunday Times, I guess!!!).<\/p>\n

Rant Over!! Have a good week!!<\/p>\n

Cheers, Clive.<\/p>\n","protected":false},"excerpt":{"rendered":"

So will it all get sorted this week? Can we enjoy Christmas safe in the knowledge that Merkel and Sarkozy have made good the Eurozone crisis, and that 2012 won\u2019t be an annus horribilis for all of us?
\nIf, like me, you read the Sunday Times yesterday you must have (like me!) struggled to get out of bed this morning, …<\/p>\n

Read more<\/a><\/p>","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[112,236,245],"class_list":["post-204","post","type-post","status-publish","format-standard","hentry","category-commentary","tag-clive-lambert","tag-futurestechs","tag-gann-analysis"],"_links":{"self":[{"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/posts\/204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/comments?post=204"}],"version-history":[{"count":0,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/posts\/204\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/media?parent=204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/categories?post=204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/tags?post=204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}