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S&P 500 Index - Standard & Poors 500 (SPX)S&P 500 Index - Standard & Poors 500 (SPX)S&P 500 Index - Standard & Poors 500 (SPX)

S&P 500 Index - Standard & Poors 500 (SPX)

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S&P 500 INDEX WEEKLY GANN ANALYSIS FOR MAY 2024S&P 500 Index has been rising from the 10 Oct 2022 weekly candle with an low of 3489. The crossing of 3600 confirmed the low on it after it closed at 3761.40 on the 17 Oct 2022 candle. The geometry of market is working at its best with the index nearing the target of 5400 with the recent weekly high at 5327.30 on the last weely candle. We are nearing the completion of one of the weekly cycles coming to an end next week. The index can grow further on closing above 5400. Price cycle completion seen at 5670 to 5759.90. The said targets can be achieved after momentum above 5400. Downside levels to be watched for correction are 5130 and 5039.90. Recent low was at 4930. Swing target from the low comes at 5470. interesting to watch if hit the target of 5400 next week on the weekly time cycle. Happy Trading !!! N.B. Not a financial 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 program for this opportunity to use it freely to express our ideas to the community of traders.
OANDA:SPX500USD
by kbr9121965
S&P 500 WEEKLY GANN ANALYSIS 23 APR 2024...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.
OANDA:SPX500USD
by kbr9121965
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