S&P 500 is the most advanced and most trade market and also most matured market to analyse and trade. You need the qualities of a seasoned campaigner to tame the beast. Here is where Gann Trading Systems can help you a lot to understand it.
Look at the chart above. We got a double bottom on hourly charts at 4819.09 on 05 Feb 2024 at 20:30 IST. Another bottom at 4920.31 on 13 feb 2024 at 1:30 IST. We were supported at the important Gann Level before that. Magic Figure was 5050 on it. Above this we have cluster resistance at 5083.26 and 5091.90. Below we have cluster support at 5010.43 and 4090.69 respectively. It would be interesting to watch if it crosses above 5125 till 5180 on the upside.
Happy Trading !!!
Look at the chart above. We got a double bottom on hourly charts at 4819.09 on 05 Feb 2024 at 20:30 IST. Another bottom at 4920.31 on 13 feb 2024 at 1:30 IST. We were supported at the important Gann Level before that. Magic Figure was 5050 on it. Above this we have cluster resistance at 5083.26 and 5091.90. Below we have cluster support at 5010.43 and 4090.69 respectively. It would be interesting to watch if it crosses above 5125 till 5180 on the upside.
Happy Trading !!!