The S&P has now closed above the 3466.00 to 3488.00 Gann square cluster and as long as it can close above it again the next short term target is the next major Gann square 3582.00. The long term target will be the next cluster of Gann squares up at 3914.00 to 3938.00. The most important of the Gann squares in the current cluster is 3474.00, so use this now as the swing point on a closing basis. With a close back below it would be a sell signal and the first target will be 23.6% back of the move up at 3200.00, any break from this swing point that didn't get it back below the previous all-time high at 3397.50 is a very strong sign. We will know a longer term top is, when on any rally they start to stay below 38.2%, this has not happened since the low in March.
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