S&P 500 directed towards area 5.800-proiezionidiborsa.it
We’ve been wondering where the S&P 500 is headed over the medium to long term, and here’s what converging techniques tell us. Using both Gann’s techniques and the proprietary Magic Box method, we arrived at the following conclusions. The index seems to be heading towards a first, fundamental target, in the 5,800 area, with a time setup for/by April 2024. Is the S&P 500 heading towards the 5,800 area in the medium term? Let’s see why.
The chart we started with
Here is the monthly bar graph from which we started.
S&P 500 and its medium-long term objective-proiezionidiborsa.it
The two horizontal red lines correspond to the same number of targets of the Magic Box method, applied to the monthly bar chart.
It was a projection formulated using a particular configuration offered by the method, called inverse pattern.
As we can see, the area of the first target has been reached.
The next target is placed at the intersection of the uppermost red horizontal line and the thick red vertical line.
This second target is projected to be around 5,808 by/by April 2024.
The square of range
This time target was also confirmed by a Gann technique.
We have drawn a square of the Gann range (actually a rectangle) included between the minimum reached by the index at about 666 points in 2009 and the maximum of February 2020.
We then projected this pattern to the right of the chart, starting at this top.
As we can see, a setup of the Gann pattern falls right in correspondence with the time setup, already projected by the Magic Box, for April 2024 (blue arrow and thick red vertical line).
We can therefore say that we have found convergences between the projections formulated with different methods.
S&P 500 heading for the 5,800 area in the medium term? The confirmations of the planetary orbitals
The target of 5,808 can be converted into zodiacal degrees, through appropriate calculations, based on the so-called planetary orbital technique, as per the method used by Gann.
In this way, we arrive at 48 zodiacal degrees.
And, precisely on April 1, 2024, therefore at the beginning of the month foreseen as a time setup, we find Jupiter at 47 degrees and 25 minutes in Taurus, a zodiacal position that approximates, in fact, 48 cumulative degrees.
Edited by Gian Piero Turletti, author of “Magic Box” And “PLT extension“
