S&P Update

ESU20
After two weeks of bumping up against the 3266.00 major Gann square a solid close above it today will make it the swing point and with another close tomorrow above it the target is the next major Gann square up at 3370.00. The long term target remains the cluster of Gann squares up at 3466.00 to 3488.00. Not getting a close above the 3266.00 major Gann square today and or closing back below it tomorrow would be a negative sign. Provided this did happen the downside target would be the area of 3166.00 to 3156.00 the first is a major Gann square and the second is 38.2% back to the 6/15/20 low.

The second chart today has secondary Gann squares marked by the yellow horizontal lines and are very good for static support and resistance. You can use them as resistance and then as support once they have been taken out, the reverse is true if they start out as support.