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August 23rd, 2016: SP-500 Chart Update

Posted by pugsma on August 23, 2016

2:15 pm EST:   The SP-500 price has tested the critical 2194 level, but so far been unable to break through.   A break above 2194 would target 2194 + (2194-2169) = 2219 on a measured move.  Also there is a potential double top at 2194, which targets 2169 – (2194-2169) = 2144 on break below 2169.  All three wave counts are still valid with SPX price below 2194.  Above 2194 would eliminate the as labeled alternate counts and confirm the primary wave count.

SP-500 15-min chart:

PUG SP-500 15-min MD 8-23-16

SP-500 60-min chart:

PUG SP-500 60-min MD 8-23-16

SP-500 4-hr chart:

PUG SP-500 4-hr MD 8-23-16


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