SP500 hit a all time high of 5284.20 in the first week of April 2024. We saw 3 weeks correction as per Gann rules against the trend. The swing 3 weeks low is at 4930 on week starting 15 Apr 2024 350 odd points down from the high. Level of 5233.50 was important for the index breaking that level we are hit the cluster support zone of 4942.70 and 4906.40. Index needs to cross above 5342.50 for further growth to happen. As long as index is below 5124.50 we may see consolidation between the zone of 4794.40 earlier swing high if it breaks below 4906.40. Important squaring level is 5329.00 and below it is 5041.00. We are using the dynamic vibrations instead of the fixed vibrations to measure the current move.
Time cycle analysis and important time and price vibrations can be seen on the chart. We saw correction near time death zone. Best shorts trade was between the half and two thirds time zone. Best long trade was after the two thirds time zone on crossover of 4252.20 and hitting the targets of 5233.50 were tsl was hit.
Happy Trading !!!
N.B. Not a finanancial advice to buy or sell.
With usual disclaimers as applicable within the reach of this
beautiful trading analysis platform. Thanks to the developers
of the programme for this opportunity to use it freely to
express our ideas to the community of traders.
Time cycle analysis and important time and price vibrations can be seen on the chart. We saw correction near time death zone. Best shorts trade was between the half and two thirds time zone. Best long trade was after the two thirds time zone on crossover of 4252.20 and hitting the targets of 5233.50 were tsl was hit.
Happy Trading !!!
N.B. Not a finanancial advice to buy or sell.
With usual disclaimers as applicable within the reach of this
beautiful trading analysis platform. Thanks to the developers
of the programme for this opportunity to use it freely to
express our ideas to the community of traders.