S&P;500 UPDATE

STOCK MARKETS 1 Minute

$S&P;500; has given a decent fall in Last week
The fall was very quick once it gave a print below 4050, the level which was mentioned on 6th,june
Going forward I still need a print below 3771 before making further projections!
3771, is an Expanding Point for (HARMONIC CHANNEL), Until S&P, sustain below it further channel expansion is not possible
So for now will wait for market to conform that it still wish to go down
In this move
HARMONIC CHANNELS, take their time to complete their rotation
If S&P, Fails to break 3771, then a move towards June highs would be possible
Even,though a break of 3771 would open up levels of 3540 and 3280
For now allow markets to give their say
3771 holds the key for short term
The medium term structure is still bearish
Shall discuss that some other dayhttps://ganntradersaahil.wordpress.com/2022/06/07/sp500-update-3/

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Published by SAAHIL BELIM

MY NAME is SAAHIL and I have been actively trading in EQUITY MARKETS from 2014. I have been using Gann theory in my TRADING JOURNEY since 2016. my approach to Gann THEORY is totally different than what you may have seen or heard in various YOUTUBE VIDEOS. I have developed multiple MATHEMATICAL MODELS which are based on METHODS described by sir gann in his courses. I never had used any kind of CHARTS to identify the TREND. hens I never share CHARTS to illustrate my view. I like to keep things SHORT and to the POINt!

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