Continuation of S&P 500 study, X axis (time) and Y (price).
(A) If we display the sections of growth of the S&P 500, by illustrating each period of rising price, with a green square, we get three (3) distinct periods periods 1. and 2. and 3.
(B) If we insert these squares 1. and 2. inside the square of period 3. and that we place the square of period 1. down and left and the square of period 2. up and right, as a result, in time and price, we note the following unusual fact ...
(C) In time, the period 1. Plus the period 2. Equals the period 3 ... more or less, exactly.
(D) In price, if we add the height of period 1 plus the height of period 2. we see that the period 3. is higher than the sum of periods 1 and 2.
François Normandeau Directeur Régional (France) TradingView
it does seem that the S&P is overextending itself but, when it comes to markets, anything and everything is possible.
Gann did some fantastic work, which I do not apply in my day to day analysis but it often gives an interesting perspective and then we can rethink things.