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May 3rd, 2018: SP-500 Chart Update

Posted by pugsma on May 3, 2018

12:00 pm EST:  All three counts remain in play between SPX 2554 and 2717.  A move above 2717 confirm the primary (green) count.  A move below 2544 leaves the alternate(blue) and alternate(red) wave counts.

Primary (green) count is that wave (c) of minor E of major [4]-P5-C1 triangle is completing at the (c)=(a) target of 2679.  The major [5]-P5 wave should be about ready to impulse higher toward the major [5]=[1] target of 2917 or triangle target of 3041.

The alternate (blue) count is that wave iii-(3) of minor C of major [4]-P5-C1 zig-zag is headed to the iii=1.62*i target of 2515.  Ultimately major [4] will complete near the minor C=A target of 2463.

The alternate (red) count is that minor 3 of major [3]-PA-C2 is headed for the minor 3 = 1.62*minor target of 2345.  Ultimately PA of C2 should reach the 2046 pivot area on this  move down from the C1 top at 2872.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=3f9e55a9-48de-41e3-ae48-a4826ef27338

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

SP-500 daily chart:

SP500 Technical Analysis

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