Gold, SP 500 Futures & High Flying Stocks

Gold, SP 500 Futures & High Flying Stocks

(GCQ26) (ESM26) (NVDA) (MU) (AMD) (PLTR) 

Gold

GCQ26

The top month is now August and we will pick up the analysis from the most recent key levels. The low this week traded below the 4481.60 major Gann square and hit 61.8% of the 3/23/26 low and 4/17/26 high at 4454.00. If we follow the ONE44 61.8% rule the longer term target is 61.8% back to where it just came from at 4738.00.The rally so far from 61.8% (4454.00) has reached 38.2% back to the 4/17/26 high at 4607.00 and this will be the key level for the week.

Use 4607.00 as the swing point for the week.

Above it, the short term target is the completion of the 61.8% (4454.00) to 61.8% target at 4738.00. The longer term target area is 78.6% of the same move at 4833.00 and the 4853.00 major Gann square. The long term target is a new ATH as long as the 3/23/26 low holds, this was 38.2% back to the 2022 low on the Nearby chart.

Below it, a failure to get above 4607.00 (38.2%) on the rally from 61.8% at 4454.00 would be a negative sign and a new low can quickly follow. The short term target is 78.6% back to the 3/23/26 low at 4300.50, this is also a major Gann square. The long term target is 38.2% on the August continuation chart at 3934.00, also a major Gann square. There is one major Gann square before then to look for support and then use as the swing point when closed below at 4118.40.

SP 500 Futures

ESM26

From the last update,

All of this week's closes were above the 7388.75 major Gann square and swing point for the week. The high for the week fell just short of the 7553.25 major Gann square and this will be the key level for the week.

Use 7553.25 as the swing point for the week.

All the market could setback was to the previous major Gann square at 7388.70 keeping the trend extremely positive. It now has two closes above the 7553.25 major Gann square and this will again be the key level for the week.

Use 7553.25 as the swing point for the week.

Above it, there are only major Gann squares to look for resistance and then use as the swing point when it is closed above, the next two are 7736.75 and 7890.75.  As long as it remains above the 7229.00 major Gann square cluster the long term target is the next major Gann square cluster at 8237.50.

Below it, we will use the 3/31/26 low to retrace back to, when and if it takes out 38.2% of that move we will bring in longer term retracements. The short term target area is 7135.00, this is 38.2% back to the 3/31/26 low at 7081.00. The long term target is 23.6% back to the 2025 low at 6968.00. Any setback that holds 23.6% back to the 3/31/26 low at 7306.00 keeps the trend extremely positive and a new high can quickly follow.

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We did a recent video on how to use the Fibonacci retracements with the ONE44 rules and guidelines that feature the high flying stocks of MU, AMD and NVDA you can find it here.

We want to give a quick update on the continuing rallies and take a look at PLTR. AMD, NVDA & MU

On the chart you can see how AMD and MU held another 23.6% retracement on 5/19/26 keeping the market extremely strong. In MU it had over a $300 rally from it and in AMD it was over $100.

NVDA

The current setback in NVDA hit 38.2% back to the 3/30/26 low at 208.50. Use this as the swing point for the week. Provided it holds, look for a new high. As always we watch all the retracements on all moves to see just how weak, or strong the market is regardless of the longer term target. Having said that, watch 78.6% back to the 5/14/26 high at 231.00, as the ONE44 78.6% rule says, a failure to make a new high in the area of a 78.6% retracement can be the end of the Bull run for the time being.

PLTR

After ending the Bull market when it failed to make a new high at a 78.6% (195.00) retracement on 12/22/25, the market has been holding 38.2% back to the ATL at 129.50. The first time it hit this was on 2/5/26 and the rally from it could only get to 38.2% back to the ATH at 157.50. The setback from that did make a new low and had one close below 129.50 (38.2%) only to close right back above it the next day keeping that retracement intact. It then rallied again up to the 150.44 major Gann square and the break from it again hit 38.2% on 5/13/26. 

The current rally hit 38.2% back to the ATH at 155.00 on Friday and this will be the swing point for the week. A failure to get above this after holding a major Long term retracement below would not be a good sign and a new low can follow. Above it, the long term target is a new ATH following the ONE44 38.2% rule. The short term target area is the 174.00 major Gann square and 61.8% back to the ATH at 175.50.

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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.

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