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ESH21 Update

The S&P's have done nothing from a price perspective to say there is a possible turn lower coming and they are not up to a major area of resistance to say that either, so we continue to look for the long term target up at 3914.00. There is one other Gann square to watch for resistance at 3802.00. You can use the 3690.00 major Gann square as a short term swing point, below it 3620.00 and then 3542.00, this is 38.2% of the move up from the 9/25/20 low. If this level gets taken out it would be the first sign of a possible top. What retracements they hold, or not after that will tell us if we should look for more downside.

The first chart below is the daily chart with the major Gann squares on them, the second is an hourly chart with the secondary Gann squares that are based on Gann's Law of Vibration and can be used as support and resistance as well as swing points and targets.

ESH21 hourly