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S&P top


Now that they are very near the long term target that is the 4386.00 major Gann square cluster, here are a few things to watch to see if it is making a longer term top.

Once they have traded above 4386.00 you can use it as a short term swing point. Just to be clear, above it there is no reason to be short and you should forget about a possible top and look for the next major Gann square up at 4510.00.

It is also close enough to 4386.00 that the DSP for the day becomes even more important. They held the 4255.50 DSP this morning, if this is to come out it should mean the high for the day is in and we can start to look to longer term levels.

The first key level is 38.2% of the last leg up from 4279.25, this is 4341.00, IF there is a close below that the first target will be 4295.00, this is 23.6% back to the 5/13/21 low.

The next sign to watch for to see if the trend is turning is they start to hold 38.2% on any rallies.