SP 500 Futures

The chart below is key to this analysis.

There are two methods we use at ONE44 to find support and resistance in the markets.

The first are major Gann squares, these are the yellow horizontal lines on the chart. On the chart you can see where the market turned multiple times at these levels.

The second is Fibonacci retracements and this is what most of this post will be about.

There are a few basic rules when using the Fibonacci retracements with the ONE44 rules and guidelines.

This is the short version.

A 38.2% level keeps the trend intact and new highs/lows should follow.

A 23.6% level shows the market is extremely strong, or weak.

A 61.8% level can cause wide swings and keep the market in a trading range.

A 78.6% level can send it 78.6% of where it just came from and even be the end or start of a Bull market.

We have done 44 videos on how to use the Fibonacci retracements with the ONE44 rules and guidelines. These Videos are worth watching even if it is not in the market you are trading, as the ONE44 rules and guidelines are the same for every market. You will also see why we believe the Fibonacci retracements are the underlying structure of ALL markets.

Here is the latest.

Sign up for free updates for Gold, Crude Oil, SP 500 and Bitcoin here.

1/11/25

(ESH25) 

From last week

The high for the week was 6036.25 and the break from it hit the short term target of 78.6% at 5918.00, it traded below this level and had one minor close below it. We will be using the ONE44 78.6% rule again to get the short term upside target. The rally so far hit the 5993.00 major Gann square and this level will be key for the next week.

Use 5993.00 as the swing point for the week.

 Above it, the short term target is 78.6% back to the 12/26/24 high at 6060.00. A failure to make a new high in this area can lead to the next sharp move lower.

 Below it, the short term target is the 5850.25 major Gann square. The longer term target is ....

This week's high completed the 78.6% (5918.00) to the short term target 78.6% the other way at 6060. The high for the week was 6068.75. The low for the week hit the short term target at the 5850.25 major Gann square and this will be the key level for next week. Low for the week was 5845.25.

Use 5850.25 as the swing point for the week.

Above it, look for the previous major Gann square at 5993.00. On an extended move higher look for 78.6% back to the 6054.00. It is coming off from the cluster of major Gann squares between 6102.00 and 6142.00 and we still think this area can cause a longer term top.

Below it, the short term target area is 38.2% back to the 8/25/24 low at 5730.00 and the 5706.00 major Gann square. Holding this area can send it back to retest the major Gann square cluster. The longer term target is 23.6% back to the 2022 low at 5500.00. Before then the 200 day average is at 5610.00 and there is one more major Gann square at 5566.00 to look for support. The long term swing point remains at 5110.00, this is 38.2% back to the 2022 low.

ONE44 Analytics where the analysis is concise and to the point

Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements, that we believe are the underlying structure of all markets and Gann squares.

If you like this type of analysis and trade the Grain/Livestock futures you can become a Premium Member.

You can also follow us on YouTube for more examples of how to use the Fibonacci retracements with the ONE44 rules and guidelines.
 

FULL RISK DISCLOSURE: Futures trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Commission Rule 4.41(b)(1)(I) hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Past performance is not necessarily indicative of future results.