Resistance Confluence: Why the Nasdaq, S&P 500 and Dow Are All Hitting Expansion Targets at Once

Written by Christopher Hall, AdvDipFP | Authorised Representative, AFSL 526688 | Updated July 2026

Analysis sourced from Gary Glover (AR 259215), Authorised Representative, Novus Capital Limited (AFSL 238 168)

A resistance confluence is the arrival of several major indices at their projected resistance zones in the same window — and in July 2026 the Nasdaq, S&P 500 and Dow Jones are doing exactly that. Each index is measured against its own most significant historical decline range, yet all three readings landed together: the Dow at 300% expansion with an overhead trend line at the same point, the S&P 500 at the 766% extension, and the Nasdaq at 650% of the 2000–02 tech wreck range. Gary Glover (AR 259215), Authorised Representative of Novus Capital Limited (AFSL 238 168), who reviews ASX momentum stocks in a recorded weekly session with Finer Market Points, zoomed out to monthly charts in his 21 July 2026 session specifically because of that simultaneity. This article explains what a resistance confluence is, how the projections are built, why market breadth is telling the opposite story, and which ASX sectors and stocks Gary is watching into the second half of 2026.

Watch the session: https://youtu.be/wuXFyYOav3s

Contents

• What is a resistance confluence — and why does it matter more than one index level?

• How does Gary Glover project index resistance from a bear-market range?

• Where does each of the three US indices sit against its expansion targets?

• Why does a parabolic trend sometimes undershoot its next target?

• Does a market top immediately once it reaches a major resistance level?

• Why is market breadth improving when a classic top says it should be deteriorating?

• What does ASX sector rotation reveal about the health of this advance?

• Which ASX sectors and stocks is Gary Glover watching into the second half of 2026?

• How do momentum traders trade underneath a resistance confluence?

• Frequently Asked Questions

What is a resistance confluence — and why does it matter more than one index level?

A single index reaching a projected resistance zone is a routine event; three major indices reaching theirs in the same window is not. The distinction matters because a lone level can be absorbed by rotation — money leaves the extended index and finds another. When the Nasdaq, S&P 500 and Dow all arrive together, there is no obvious neighbouring index to rotate into, and the risk stops being idiosyncratic and starts being structural.

The confluence framing here is Christopher Hall's editorial synthesis of the 21 July 2026 session, not Gary's own term. What Gary flagged was the simultaneity itself and the discomfort it produced:

"Just seeing all these levels there sort of getting hit or getting very close, or maybe they might just be within 1% of that level — that's making me a little nervous here." — Gary Glover, 21 July 2026 session

The three signals that took Gary to the monthly charts

Three things sharpened that read in the days before the session. The S&P 500's daily chart had tightened, broken upward, then failed and broken back down. Distribution days — down sessions on heavier volume than the day before — had been increasing on both the S&P 500 and the Nasdaq. And the monthly charts, viewed together, showed each index pressed against a level that had mattered before.

"Any consolidations in a pretty strong trend are normally going to be breaking upwards there. So, just concerned that we're sort of seeing a few little failures there on the Nasdaq and the S&P 500." — Gary Glover, 21 July 2026 session

A failed breakout inside a strong uptrend is the informative part. In a healthy advance, a tight consolidation resolves upward; when it resolves down instead, the trend has lost the automatic bid that defined it. That behaviour, combined with a rising count of distribution days that warn of a forming market top, is what moved Gary from the daily charts to the monthly ones.

How does Gary Glover project index resistance from a bear-market range?

The projection technique is "range squaring" — Gary Glover's own term for using the full decline range of an index's most historically significant bear market as a fixed measuring unit, then projecting multiples of that range above the recovery base. Gary Glover's anecdotal observation, developed across his trading career and not a formal study, is that a market tends to encounter meaningful resistance at successive multiples of that range as each phase of a bull run extends.

Range squaring differs from Fibonacci retracement in what it anchors to. A Fibonacci level is a proportion of a recent swing. A range-squaring level is a multiple of one historically significant clearing event — the decline that reset the index. The full method, and how Gary first applied it across the three US indices, is set out in how Gary Glover projects Nasdaq resistance levels from a bear-market range.

The Nasdaq moves in three-quarter increments, not round multiples

The important refinement from the 21 July session is that the increment is index-specific. The Nasdaq has not been stepping in round multiples of the tech wreck range — it has been stepping in three-quarter offsets:

"For some reason the Nasdaq has moved in three-quarter increments of that range. They've gone to the 175, the 275, the 375, the 475, the 575. So every high and every pullback has been hitting that increment." — Gary Glover, 21 July 2026 session

Nasdaq step	Expansion of the 2000–02 tech wreck range	Status at 21 July 2026
1	175%	Reached
2	275%	Reached
3	375%	Reached
4	475%	Reached
5	575%	Reached
6	675%	Not reached — index at 650%

The sequence is the evidence for the method. Each of the first five steps marked a high or a pullback point, which is why the sixth — 675% — was the level Gary expected the index to reach next. It has instead stalled at 650%.

Where does each of the three US indices sit against its expansion targets?

Each index is squared against its own significant decline range, and all three readings clustered in July 2026. The anchor range is not shared — the Nasdaq's is the 2000–02 tech wreck, the Dow's is the 2022 bear market — but the technique and the timing are.

Index	Anchor range	Reading at 21 July 2026	What Gary flagged
Nasdaq Composite	2000–02 tech wreck decline	650% expansion; next increment 675%	Stalling one step short of the projected level, with a vertical monthly structure
S&P 500	Its own significant decline range	766% extension reached	An extension level associated with parabolic moves, above the 161.8% and 423% Fibonacci extensions
Dow Jones	2022 bear market decline	300% expansion reached	Coinciding with an overhead trend line at the same point

Why the Dow reading carries the most weight

The Dow is the one Gary singled out, because two independent constraints met at the same price.

"You've got an overhead trend line and we've also got 300% expansion of that 2022 bear market there as well. Just interesting here that we sort of hit that 300 and the upper band at the same time." — Gary Glover, 21 July 2026 session

The Dow's history with these levels is why the 300% reading carries weight. It reached 200% expansion and pulled back to 100%. It then advanced to 261% and pulled back to 200%. Each level was reached, respected and used as support on the way back up — what Gary describes as good resolution of the range. A projection method earns credibility from that kind of prior behaviour, not from the level itself.

Where the 766% extension sits on the S&P 500 ladder

The 766% figure on the S&P 500 looks arbitrary until it is placed on the extension ladder. Traders commonly watch the 161.8% and 423% Fibonacci extensions. The 766% level sits well above both, and Gary's anecdotal observation is that markets and individual stocks reach it only when a move has become genuinely parabolic — which is precisely why he treats it as a level to watch rather than a routine waypoint.

Why does a parabolic trend sometimes undershoot its next target?

A market that stalls one step short of its projected level is behaving differently from one that overshoots — and the Nasdaq's stall at 650% instead of 675% is the anomaly in this confluence. The intuition runs the other way: a vertical, parabolic advance is usually associated with blow-off excess, and excess normally overshoots a target rather than falling shy of it.

"That is a trend which is getting parabolic. And when you get parabolic, you might hit at a different extreme here. So maybe we're going to fall short of that prior extension, which seems weird really." — Gary Glover, 21 July 2026 session

Two readings of a short stall are available to a momentum trader, and the 21 July session did not resolve between them. The first is exhaustion: demand thinned before the projected level, which is a sign the advance has run out of fuel one step early. The second is unfinished business: the index pauses, consolidates, then completes the step — the behaviour the previous five increments displayed. What separates them in practice is what happens next to the price structure at the zone, not the stall itself.

Gary's related concept is "bullish spacing" — visible room left between price and the prior high after a level is cleared, which he treats as continuation rather than topping. Its opposite is overlapping, churning price action at the zone, which he associates with distribution. The distinction between the two structures is examined in how spacing separates a strong trend from one that is topping.

The FMP Momentum Profile — published daily and accessible to FMP YouTube Momentum Profile members — tracks the ASX momentum conditions that sit underneath macro readings like these, giving members early access to the educational data discussed in this article.

Does a market top immediately once it reaches a major resistance level?

Reaching a projected resistance zone is the start of a process, not an event. The most common practitioner error at a confluence is treating arrival at the level as the signal itself, then acting on the first down day.

"The thing about highs is that you don't just hit the high and then just come straight off there. Normally there can be a congestion period, or even a first test and then a reaction and a second test as well." — Gary Glover, 21 July 2026 session

Gary Glover's anecdotal observation, developed across his trading career, is that markets typically resolve a major level through one of three sequences:

1. Congestion — price moves sideways at the level for an extended period before resolving in either direction.

2. Test, reaction, second test — an initial push into the level, a pullback, then a second attempt that either clears it or fails.

3. Immediate rejection — the least common of the three, and the one traders anticipate most.

The ASX 200 diamond top — a structure, not yet a signal

The ASX 200 is currently working through exactly this ambiguity. Gary identified a diamond top formation developing on the index — a broadening then narrowing price structure that can precede a reversal. He also noted that the last such formation on the ASX 200 resolved as a pause rather than a top: the index broke out, moved, came back to retest the range, then continued higher. A pattern that has recently produced the benign outcome cannot be read as a reliable warning on its own, which is why Gary framed it as something to keep an eye on rather than a signal to act on.

Update — 4 August 2026: the diamond resolved sideways, and the sequence is the first of the three. Two weeks on, the ASX 200 diamond had broken out the side rather than down. Gary Glover read that as the constructive resolution and said he would be shocked if the index did not take the high out, putting a possible 9,300 to 9,400 on the move — a level he was working to, not a forecast, and one he immediately qualified. His caution was that the previous diamond on this index ran only a couple of weeks before pulling back, went one week higher, then pulled back again. In his words the structure guarantees a break of the high in some regards, but nothing about the size of the move that follows.

On the US indices the sequence set out above resolved toward the second of the three — test, reaction, second test. The Nasdaq and S&P 500 had gone sideways rather than peeled back, which Gary described as not typically how those indices finish, and by 4 August the market had taken out two lower highs without yet taking the high itself. He also read the spacing as intact: the S&P 500 the strongest of the three because its correction was mostly sideways, the Nasdaq's decline the healthier one, and the Dow "a little bit young." He was explicit that the setups themselves remained loose rather than tight, that the US was still waiting for a follow-through day, and that the last time the index came out of a diamond the move was loose coming out of it as well.

On timing, Gary remained wary of an August high, and said that if it is not August it will not go past mid-September. A run of roughly six weeks into the middle of September is where he said he would be de-risking in a big way. These are dated session observations, not a forecast of any particular outcome.

How far these indices and the stocks underneath them can give back without breaking their trend structure is a separate reading — the ASX retracement depth bands differ by security class, and the index band is the shallowest of the three.

Why is market breadth improving when a classic top says it should be deteriorating?

The most important feature of this confluence is that the standard topping signature is absent — and in some respects inverted. This is where the 21 July session departs from the textbook, and it is the reason Gary stopped short of calling a top despite the level readings that made him uncomfortable.

The classic topping sequence is documented in William O'Neil's How to Make Money in Stocks (2009): the market's leading stocks break down before the index does, participation narrows, and a shrinking group of names carries the advance while the broader list deteriorates underneath. Distribution days cluster as institutions sell into the strength.

"Normally when you're this extended and you maybe are looking at a top, you've got breadth issues throughout the market. We've actually got almost the opposite of that going on." — Gary Glover, 21 July 2026 session

Classic topping signature (O'Neil, 2009)	What Gary observed on 21 July 2026
Breadth deteriorating as the index rises	A growing number of US stocks trading above their 150-day moving average
Leaders holding up while the broad list breaks	Several leaders already broken down, while the broad list improves
Participation narrowing into the high	Participation widening
Distribution days clustering	Distribution days increasing — the one element that matches

What would invalidate the improving-breadth read

Only one element of the classic signature is present. The rest is running the other way, which is why Gary described the market as confusing rather than dangerous. His working interpretation is that a high-inflation environment can distort the usual sequence, and that a market which has been absorbing sector drawdowns through rotation rather than through index declines may produce a shallower pullback than the vertical monthly structure would otherwise imply.

That interpretation is a practitioner read, not a formal study, and it carries an obvious risk: an improving breadth reading is a bullish signal right up until the moment it turns, and it will not provide advance notice at a confluence of this kind. Both possibilities were live in the session — Gary was explicit that the verticality of the Nasdaq monthly chart still hints at a decent-sized pullback.

What does ASX sector rotation reveal about the health of this advance?

The Australian market is the clearest evidence for the rotation thesis, because several of the sectors that drove it to its highs have already corrected without taking the index with them. Gary's session observation is that the sectors leading the ASX two to three months ago have since had substantial pullbacks, yet the index has held.

Sector	Gary's 21 July 2026 characterisation	Index effect
Gold	Pretty large pullback	Absorbed
Uranium	Very large pullback	Absorbed
Silver	Pretty large pullback	Absorbed
Iron ore / materials	Decent pullback over recent months	Absorbed

When several leadership sectors correct hard and the index still holds its ground, the money has moved rather than left. That is the structural argument for a shallower decline when one eventually arrives — and it is a materially different condition from a market where the index falls because everything falls together.

"Maybe this is just going to remain a trader paradise here where we're just going to be rotating from one sector to the next." — Gary Glover, 21 July 2026 session

What the FMP Top 10 showed for the week ending 18 July 2026

Finer Market Points' own weekly data is consistent with that read. In the FMP Top 10 ASX momentum stocks for the week ending 18 July 2026, five of the ten positions were held by resource exploration names and five of the ten names were new entrants to the list that week — a high turnover rate for a single week, and the signature of leadership changing hands rather than concentrating. This describes what the list showed for that week; it is not an indication of what follows.

The method for identifying that kind of handover before it becomes obvious is covered in how momentum traders identify sector rotation opportunities before the catalyst arrives.

Which ASX sectors and stocks is Gary Glover watching into the second half of 2026?

The sector Gary flagged as newly firming is one that has been out of favour for most of the cycle: Australian real estate investment trusts. Several property trust names appeared among the better weekly performers in the run-up to the session — an outcome Gary described as odd, given the rate environment, but not unprecedented.

Gary Glover's anecdotal observation, developed across his trading career, is that ASX property trusts have periodically produced surprisingly good runs from unpromising starting conditions, and that their reappearance among weekly leaders is worth monitoring as an early rotation signal rather than dismissing on macro grounds. The retail REIT segment and how FMP frames it is set out in the research on Vicinity Centres (ASX: VCX).

Two REIT charts and two industrial names framed the watchlist.

Stock	Structure Gary described	What he wants to see next
Dexus Industria REIT (ASX: DXI)	Tightening and congesting after a long decline, starting to break upward	Follow-through on the break, sector confirmation from other trusts
Stockland (ASX: SGP)	Broke above the 50-day, fell back below it, now bouncing again; volume elevated for roughly six weeks	The second reclaim to hold — the first break is not the trigger
Eagers Automotive (ASX: APE)	Retraced 61.8% of a move from roughly $10 to roughly $36 over about 12 months; corrections shortening; four to five weeks without a new low	A swing high broken, confirming the first higher low
Nick Scali (ASX: NCK)	Inverted head-and-shoulders appearance; broke above the 50-day on the daily and is retesting it	Another week or two holding the 50-day with no aggressive selling

The second break of the 50-day is the entry Gary prefers

Gary's stated preference across both SGP and NCK is not the first reclaim of the 50-day moving average but the second. The reasoning is that the first break rarely arrives with a base underneath it.

"I always find that maybe the first break of the 50 is not really a great trigger — it often takes time to base there, to build a higher low or two. So coming through the second time I found a better time to follow the stock." — Gary Glover, 21 July 2026 session

On Stockland, the supporting evidence is volume: elevated for roughly six weeks, which Gary reads as hinting at accumulation beneath a chart that still looks unremarkable. On Nick Scali, the same principle appears as a preference for the retest — break above, come back, find support — over the initial cross. The full framework is set out in why the second break of the 50-day moving average is a stronger entry.

For growth-character names specifically, Gary's observation is that the bulk of a decline occurs after the 50-day breaks, so a reclaim often marks a starting point for base-building rather than an immediate advance: the stock either goes sideways for a period or begins to trend back up. That behaviour is what makes the average function as a regime boundary rather than a simple trigger line, as set out in the 50-day moving average trading system.

The demand-side context behind Eagers Automotive

On the Eagers Automotive chart, Christopher Hall added the demand-side context during the session. Australian new vehicle sales have been reshaped by Chinese-manufactured brands over a short period, and the market a dealership group sells into today is not the market it sold into two years ago.

"Fiat are now looking to withdraw new imports of cars into Australia because of the Chinese threat — I think they sold 13 or 14 Fiats last month, which was less than Lamborghinis and less than Ferraris." — Christopher Hall, 21 July 2026 session

The withdrawal of a legacy European marque is a distribution decision rather than a demand signal on its own, but it is the kind of decision that follows a sustained change in what buyers are choosing. The scale of that change is clearer at the volume end of the market.

"The final statistic which really threw me — I think it was only about 200 cars that Toyota sold more than BYD last month." — Christopher Hall, 21 July 2026 session

Electric vehicles accounted for roughly a quarter of Australian sales in recent months on Christopher Hall's session reading, and the mechanism he identified is immediate supply: the Chinese brands have been able to deliver from stock while established hybrids carried multi-week waiting lists. These are figures recalled during the session rather than sourced market statistics, and the technical read on Eagers Automotive stands independently of them.

The structure Gary described on Eagers Automotive — shortening corrections and a failure to make a new low over four to five weeks — is the early stage of the same higher-lows sequence covered in a 0-1-2-3 base of four consecutive higher lows. Gary was explicit that it may be early.

"I can just see the correction shorten up. The market pulled back the last four or five weeks and failed to go to a new low. So potentially you might have your first higher low starting to build here." — Gary Glover, 21 July 2026 session

How do momentum traders trade underneath a resistance confluence?

A monthly-chart resistance confluence is not a long-term-only exercise — it sets the risk budget for every short-term trade taken underneath it. The levels themselves do not generate entries. What they change is position size, target expectation and the willingness to hold through a pullback.

The cycle context underneath these levels was set out at the start of the year in the midterm election-year blueprint Gary published in January, which is why the 21 July session was framed as a return to that framework rather than a new call.

Drawing on Gary Glover's practitioner approach, developed across his trading career and synthesised from the 21 July 2026 session, the macro read translates into three shorter-term adjustments:

1. Treat the confluence as a risk setting, not a signal. The levels raise the probability of a reaction; they do not date it. Positions continue to be taken on their own structure.

2. Weight the breadth reading against the level reading. Improving participation is the argument for staying engaged; the level readings are the argument for smaller size. Both apply at once.

3. Demand confirmation rather than anticipation. At a confluence, a second test that holds is worth more than a first break — the same principle Gary applies to the 50-day on individual names.

The practical consequence is that rotation-driven markets reward selectivity over conviction. When leadership changes hands every few weeks, the trade is the handover, not the forecast — which is the same conclusion reached in Gary Glover's adjustments for a hard-penny market, where setups trigger but follow-through is scarce.

Who writes the Finer Market Points analysis of Gary Glover's sessions?

Christopher Hall, AdvDipFP, is an Authorised Representative under AFSL 526688 and the author of the Finer Market Points research program covering ASX momentum trading. His work focuses on adapting US momentum methodology — Mark Minervini's VCP framework, William O'Neil's CAN SLIM research and the relative-strength literature — to the structure and liquidity of Australian markets. He writes the weekly analysis drawn from Gary Glover's recorded sessions and maintains the FMP Momentum Profile research published daily.

Conclusion

The resistance confluence across the Nasdaq, S&P 500 and Dow Jones is the defining feature of the second half of 2026 for ASX momentum traders — three indices at projected levels derived from their own historical decline ranges, arriving together, with an overhead trend line reinforcing the Dow reading. Against that sits a breadth picture that contradicts the classic topping signature almost point for point, and an ASX market that has absorbed heavy drawdowns in gold, uranium, silver and materials without giving up its index level. Gary Glover's read is neither bullish nor bearish but conditional: the levels warrant smaller size and more confirmation, while the rotation argues against a severe decline. What resolves the ambiguity is behaviour at the zone — congestion and a held second test, or overlapping price and a failed one. The Momentum Profile data and Gary Glover's weekly session recordings, where these conditions are reviewed in real time, are accessible to FMP YouTube Momentum Profile members.

This analysis draws on Gary Glover's recorded weekly session and the FMP Momentum Profile research, which is published daily and accessible to FMP YouTube Momentum Profile members. Members receive early access to the educational data that forms the basis of articles like this one, including the weekly Top 30 ASX momentum list — the same research behind the rotation readings discussed above — 19 hours before the Gary Glover weekly session goes live — the same research behind the rotation readings that sit underneath the current resistance confluence. For information on FMP YouTube Momentum Profile membership, visit the membership page.

Remember that past performance is no guarantee of future results, and all trading involves risk.

Frequently Asked Questions

What is a resistance confluence in technical analysis?

A resistance confluence occurs when several major indices reach their projected resistance zones within the same window, rather than one index reaching a level in isolation. In July 2026 the Nasdaq, S&P 500 and Dow Jones each arrived at an expansion level derived from their own historical decline ranges at roughly the same time. The significance is structural: when every major index is extended at once, rotation between indices is no longer available as a release valve.

What is range squaring and how is it different from Fibonacci retracement?

Range squaring is Gary Glover's term for using the full decline range of an index's most historically significant bear market as a fixed measuring unit, then projecting multiples of that range above the recovery base to identify forward resistance zones. It differs from Fibonacci retracement in its anchor: a Fibonacci level is a proportion of a recent price swing, while a range-squaring level is a multiple of one historically significant clearing event. It is an anecdotal practitioner method, not a formal study.

Why is the Nasdaq stalling at 650% instead of reaching 675%?

The Nasdaq has advanced in three-quarter increments of the 2000–02 tech wreck range — 175%, 275%, 375%, 475% and 575% each marked a high or a pullback point — which made 675% the expected next step. It reached 650% and stalled. Gary Glover's anecdotal reading is that a parabolic trend can hit a different extreme than the projected one, so a short stall may reflect exhaustion or an incomplete step. The distinction is resolved by subsequent price behaviour, not the stall itself.

What is a diamond top on the ASX 200?

A diamond top is a price structure in which a range broadens and then narrows, forming a diamond outline, and it can precede a reversal. Gary Glover identified one developing on the ASX 200 in his 21 July 2026 session. He also noted that the index's previous diamond formation resolved as a pause rather than a top — the index broke out, moved, retested the range and continued higher — so he framed it as a structure to monitor rather than a signal to act on.

Does improving market breadth mean the market is not topping?

Not on its own. Improving breadth — a growing proportion of stocks trading above their 150-day moving average — runs contrary to the classic topping signature documented in William O'Neil's How to Make Money in Stocks (2009), where leadership narrows and the broad list deteriorates before the index turns. Gary Glover's 21 July 2026 observation was that participation was widening rather than narrowing. Breadth is a confirming condition, not a guarantee, and it can reverse without notice.

Why do momentum traders prefer the second break of the 50-day moving average?

Gary Glover's anecdotal observation, developed across his trading career, is that a first reclaim of the 50-day moving average usually arrives without a base beneath it, so the stock tends to need more time to build one or two higher lows before it can advance. A second reclaim, following a pullback and a successful retest, has that structure in place. He applied this reading to both Stockland (ASX: SGP) and Nick Scali (ASX: NCK) in the 21 July 2026 session.

Which ASX sectors did Gary Glover flag as improving in July 2026?

Australian real estate investment trusts were the sector Gary identified as newly firming, with several property trusts appearing among the better weekly performers — an outcome he described as odd given the rate environment. He named Dexus Industria REIT (ASX: DXI) and Stockland (ASX: SGP) as charts he was monitoring, alongside industrial names Eagers Automotive (ASX: APE) and Nick Scali (ASX: NCK). These are educational examples from a session watchlist, not recommendations.

Can the ASX 200 hold up if leadership sectors keep correcting?

It has so far. Gary Glover's 21 July 2026 session observation was that gold, uranium, silver and iron ore all experienced substantial pullbacks after driving the market to its highs two to three months earlier, yet the index held its ground. His interpretation is that this pattern is consistent with money rotating between sectors rather than leaving the market — a condition that has historically been associated with shallower index declines. This is a practitioner interpretation, not a formal study.

Sources

#	Source	Type
1	Gary Glover (AR 259215), Novus Capital Limited (AFSL 238 168). Finer Market Points session, 21 July 2026 (https://youtu.be/wuXFyYOav3s).	Practitioner session
2	Gary Glover (AR 259215), Novus Capital Limited (AFSL 238 168). Finer Market Points session, 2 June 2026 — range squaring, bullish spacing.	Practitioner session
3	Christopher Hall, Finer Market Points. FMP Top 10 ASX momentum data, week ending 18 July 2026.	FMP proprietary data
4	O'Neil, W.J. (2009) How to Make Money in Stocks, 4th edn, McGraw-Hill — distribution days and the market-direction component of CAN SLIM; leadership breakdown ahead of index tops.	Published research
5	Christopher Hall, Finer Market Points. Session commentary on Australian new vehicle sales composition, 21 July 2026 — figures recalled in session, quoted directly and not presented as sourced market statistics.	Practitioner session
6	Gary Glover (AR 259215), Novus Capital Limited (AFSL 238 168). Finer Market Points session, 4 August 2026 (https://youtu.be/XI64DunmccY) — ASX 200 diamond-top resolution, US index spacing read, and the August–mid-September timing window.	Practitioner session

All Gary Glover observations in this article are anecdotal practitioner observations developed across his trading career — not formal studies. "Range squaring" and "bullish spacing" are Gary Glover's own terms. The "resistance confluence" framing is Christopher Hall's editorial synthesis of the session, not a term used by Gary Glover.

Related Finer Market Points Educational Resources

• How Gary Glover Identifies Nasdaq Resistance Levels Using Bear Market Range Squaring — Christopher Hall

• What Distribution Days Reveal About a Forming Market Top — Christopher Hall

• Spacing vs Overlapping Trends: A Strong ASX Trend or One That's Topping — Christopher Hall

• The Second Break of the 50-Day Moving Average: A Stronger ASX Momentum Entry — Christopher Hall

• The 50-Day Moving Average Trading System — Christopher Hall

• The 0-1-2-3 Base: Four Consecutive Higher Lows — Christopher Hall

• How ASX Momentum Traders Identify Sector Rotation Before the Catalyst Arrives — Christopher Hall

• Midterm Election Year Stock Market Cycles: The Complete Guide for ASX Traders in 2026 — Christopher Hall

• The Hard Penny Market: Gary Glover's Two Adjustments — Christopher Hall

• How Deep Should an ASX Pullback Go? Retracement Depth for the Index, Industrials and Miners — Christopher Hall

• Vicinity Centres (ASX: VCX): Australia's Second-Largest Retail REIT — Christopher Hall

• ASX Top 10 Momentum Stocks — Saturday 18 July 2026 — Christopher Hall

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Analysis attributed to Gary Glover (AR 259215) reflects his anecdotal observations developed across his trading career, shared in a recorded weekly session with Finer Market Points. It is general commentary, not personal financial advice, and is not a formal study. Gary Glover is an Authorised Representative of Novus Capital Limited (AFSL 238 168).

This article is based on analysis and commentary provided by Gary Glover (AR 259215), Authorised Representative of Novus Capital Limited (AFSL 238 168), during a recorded market analysis session on 21 July 2026. Content has been edited and summarised by Finer Market Points for educational purposes. Gary Glover has not independently reviewed or endorsed this publication.

Educational Disclaimer: This content is for educational purposes only and does not constitute financial advice. Past performance is no guarantee of future results. Consider your financial situation and seek professional advice before making investment decisions.

Finer Market Points Pty Ltd, CAR 1304002, AFSL 526688, ABN 87 645 284 680. This general information is educational only and not financial advice, recommendation, forecast or solicitation. Consider your objectives, financial situation and needs before acting. Seek appropriate professional advice. We accept no liability for any loss or damages arising from use. Authors and presenters may hold positions in discussed companies and investment products.