In the S&P 500, an extraordinarily promising shorting opportunity is going to open at 1985 index points in the course of next trading week.


Last week, in this site I arrived at the conclusion that the current B wave within the overriding ABC correction should have to go on till the end of October and until the area of 1960-1965. Afterwards, at this price level the next big downwave – the C wave down – was supposed to start reaching in succession the 1780-1760 rapidly:


==> Please, mind especially that in respect of the current weekly up setup, the B wave top shied above the upper line of the 3rd double arc resistance being expected between 1960 and 1965.

At the moment, the upper line of the 3rd is – still – a strong natural resistance: We can tell off 4 past weekly highs that were marked exactly at or very near to the upper line of the 3rd.

In light of current events, the B wave up target will have to be shifted upwards now, to 1985 points. This B wave topping region is likely to be reached until Wednesday through Friday next week.


Here follows the present standing of the determining 13 Candle GUNNER24 Up on weekly base. Today again, we only consider the developments respectively prognosis resulting from the weekly time frame cause this is from my point of view the one that is currently delivering the most unerring forecast in terms of price and time for the S&P 500:


Within the current B wave, the market gained more than 145 points from lows to highs within 8 trading days. The present bounce made new highs at 1965.27 on Friday. The week closed overly strong at the highs.

Target area for the bounce relevant to the price was - as worked out last week after all – the 1960-1965. Even though it is attained now it is going higher yet, simply because also the time factor requires that, as worked out last Sunday as well. The time barely presets that the market will be supported by upforces for up to 5 more trading days. In addition, the indicators in the daily time frame need something more until really some overbought levels arise. According to this, logically speaking some newer highs are to be budgeted respectively expected for the coming days.

The B wave top has to come in above the upper line of the 3rd double arc, since also the alltime high is above the upper line of the 3rd. It will take prices above the upper line of the 3rd resistance for the S&P 500 to be allowed to turn! Since in terms of price and time, the market went much faster and higher in the course of the week than expected on Sunday, technically the B wave top has to/should be situated above the 1965.

For next week, the upper line of the 3rd takes course at 1962-1963. Since the weekly close is at 1964 now, we are allowed to work on the assumption that next week will open at or even above the 1962-1963 resistance. Thus, we can assume that with the weekly opening the week resistance will be skipped over temporally at 1962-1963. That should respectively would have to release another strong upenergy thrust!

==> My final conclusion is thereby: With a 95% of probability, the market has to go higher than the current 1965.27 because in the course of next week the resistance of the upper line of the 3rd double arc will be taken upwards!

The adjusted target for the B wave top is at 1985! This is how I derive this target:

Starting point of the following 1985 derivation is the weekly 1*1 Gann Angle. In the chart above I named it the 1*1 Main Resistance Angle.

The 1*1 Gann Angle has held and been tested successfully 4 times in 2013+2014. Die 4 red/green ovals distinguish these successful tests in the chart above. At those tests, in each case the market was allowed to dip below the 1*1 Gann Angle. This one always held on closing base however. At the 5th test altogether, the 1*1 Gann Angle broke finally on closing price base within the A wave decline. That downside break released enormous downforces till the market bottomed at double weekly 1820 support zone. Think market wants to back test that 1*1 Gann Angle now and next and within the B wave! The 1*1 Gann Angle is exactly at 1985 for next week.

The 1*1 Angle has held and guided the S&P 500 upwards for more than a year, and back-testing such an important former support – now usually strong weekly resistance - is nothing unusual for markets. Don’t think the upper line of 3rd is strongest up magnet for the market currently, think it’s the 1*1 Angle = 1*1 Main Resistance Angle that attracts S&P 500 mostly now. Are we experiencing now a classical back test with the subsequent start of the C wave down? – A kiss of death?

There are some further cogent indications speaking for near-term working off the 1985.

Let’s just start from the following consideration: We assume that the alltime high ran precisely and exactly at the upper line of the 3rd double arc resistance within the ruling weekly 13 candle up setup. Nevertheless, an alltime high is always important, and it is A) absolutely logical that exactly at alltime highs a huge resistance overruled the advance efforts of the bulls and B) usually alltime highs or other important intermediate highs or lows have nearly always been printed at or close to some GUNNER24 Horizontals, Verticals, Blue Arcs, Double Arcs, Gann Angles etc.


According to this, now I shift the weekly circle GUNNER24 Overlay a little bit to the right, so the alltime high coincides exactly with the upper line of the 3rd double arc resistance:


Assuming that the alltime high is exactly on the upper line of the 3rd double arc resistance we can state an astonishing observation at 1985 index points:

At 1985, for next week we can identify a triple Gann Magnet.

The triple magnet = simultaneously the very strongest resistance in the weekly time frame is built A) by the well analyzed 1*1 Main Resistance Angle that intersects B) the upper line of the 3rd. The upper line of the 3rd should deliver future resistance till a clear weekly close above will occur. Additionally C), the horizontal that springs from the intersection point of the upper line of the 2nd double arc with the starting point of the setup is likewise exactly at 1985 index points.

The mentioned 1985 horizontal was an extremely tenacious resistance over the entire July 2014. Mind on this, the red oval! 2 weekly highs, 1 weekly open and 1 weekly close were made there and then.

Also the week before and the two candles after the alltime high candle, but also the alltime high candle itself have always been oriented by the 1985 horizontal: We recognize 2 weekly closings, 1 weekly open and 1 weekly high at or very close to 1985.

==> Cause 1985 seems to be a triple magnet for next week, I think the market has to reach and work off that strong up magnet = strong resistance within B wave. At 1984 – if reached – ONLY in the course of next week we’ll go short. The main target for this short-setup is at 1780. If the market really turns down from the triple 1985 resistance region the down target will be able to be worked off extremely fast, namely within 3 weeks after the end of the B wave!

This short-setup delivers a phenomenally riskless entry with higher profit expectation since the stop loss (SL) can be positioned very narrow at the entry.

For it’s very simple:


Reconquering the weekly 1*1 Main Resistance Angle on closing base will be the confirmation that the 1820 low was the last important low of the year and the year-end rally has started there. Next important uptarget in this case is the 2050 environment, a monthly GUNNER24 Double Arc Resistance. Concerning the 2050 uptarget, please pay attention to the currently valid 13 Candle GUNNER24 Up Setup in the monthly time frame, last presented in the free GUNNER24 Forecasts of 09/28/2014.



As far as I know“, the GUNNER24 Forecasting Method is the globally unique and only technical analysis tool that deals intensely with the comportment of the market at support and resistance marks being able to combine that with price predictions. You’ll learn everything on these really “secret” facts in the Complete GUNNER24 Forecasting and Trading Course. Order now!

Be prepared!

Eduard Altmann

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