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Gold & SP 500 Futures Update
Gold & SP 500 Futures Update
Gold
From the last update,
It did have a couple closes below 4170.00 (78.6%), however it never closed below the 4122.00 major Gann square and didn't make a new low (previous low was 4015.60). Friday's close got well above 4170.00 and this will again be the key level for the week. This remains important, A failure to make a new low in this area can be the start of the next Bull move per the ONE44 78.6% rule.
Use 4170.00 as the swing point for the week again.
Below it, the short term target is 3934.00 this is 38.2% on the continuation chart and a major Gann square. The long term trend remains positive above 3934.00, if this level is taken out we will update the long term downside targets.
The market has now taken out the 4170.00 (78.6%) swing point and made a new low on Friday taking out the 6/30/26 low. It is falling into the long term 38.2% level on the continuation chart at 3934.00, this is also a major Gann square and it will be the key level for the week.
Use 3934.00 as the swing point for the week.
Above it, The short term target area is 38.2% back to the 8/25/26 high at 4281.00 and the 4306.00 major Gann square, this is the area that needs to be taken out to turn the short term trend positive again. The longer term target is 23.6% back to the contract high at 4675.00. Any rally that can't get above the 4122.00 major Gann square is a negative sign and a new low can quickly follow.
Below it, turns the long term trend negative and it will give us a long term target of 61.8% of the same move at 2850.00. Before then there are major Gann squares to look for support and then use as the swing point when closed below, the next two are 3776.00 and 3624.00.
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SP 500 Futures
From the last update,
There was no turn lower from 7810.00 (78.6%) and it has now gone on to a new high hitting the 7890.75 major Gann square and this will be the key level for the week.
Use 7890.75 as the swing point for the week.
Below it, the short term target is 23.6% back to the 6/11/26 low (correction) at 7736.75, this is also a major Gann square, holding this level keeps the trend extremely positive and a new high can quickly follow. The longer term target is 38.2% of the same move at 7639.00, taking this level out would turn the short term trend negative....
Above it, after making a new ATH it is very important that it stays above the previous high of 7848.50 on the Nearby chart. The long term target is the next cluster of major Gann squares at 8240.00. ....
It failed to stay above the previous ATH at 7848.50 and the break from the 7890.75 major Gann square fell just short of the longer term target of 38.2% back to the 6/11/26 low at 7639.00, so this will be the key level for the week. Holding this area is a very strong sign and a new high can quickly follow. failing to hold it turns the short term trend negative.
Use 7639.00 as the swing point for the week.
Above it, the short term target is 78.6% back to the 10/6/26 high at 7844.00, a failure to make a new high in the area of a 78.6% retracement can cause a sharp selloff per the ONE44 78.6% rule. The long term target is the next cluster of major Gann squares at 8240.00. There is one major Gann square before then to look for resistance and then use as the swing point when closed above at 8060.30.
Below it, turns the short term trend negative and the short term target area is the 7553.20 major Gann square and 23.6% back to the 3/31/26 low at 7533.00. The longer term target area is the 200 day average at 7320.00 and 38.2% back to the same low at 7310.00.
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