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August 30th, 2017: SP-500 Chart Update

Posted by pugsma on August 30, 2017

3:45 pm EST:   SP-500 price has risen above the 2453 pivot and above the 13-day EMA, 34-EMA and 50-day SMA.  The bullish alternate (blue) wave count is gaining higher probability versus the primary (red) count.

The primary (red) count is that wave (2) of minor 3 of major [1]-PA-C2 is headed for the 78%/88% to 2462/2468.   The primary count is valid below 2475.  Once the wave (2) ends below 2475, there should be a massive drop for wave (3) of minor 3 down to the 2368 target, where (3)=1.62(1).

The alternate (blue) count is that wave (3) of minor 1 of major [5]-P5-C1 is underway with a target of 2490, where (3)=1.62(1).   Minor 1 should reach the 2513 area.  The alternate wave count remains valid above 2428.

SP-500 15-min chart:

SP5500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

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