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May 7th, 2018: SP-500 Chart Update

Posted by pugsma on May 7, 2018

3:40 pm EST:  The SP-500 gapped up and moved up to 2683 today tagging the 50-day SMA resistance (2680).

A break above 2683 should produce a rally to the 2709 to 2717 area per the primary (green) count.   A failure at 2683 and drop below 2637 would favor the bearish alternate (blue) wave count.  Details shown on the charts below.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=5e103e78-8435-466a-8cf0-58c27cf6b076

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

 

SP-500 4-hr chart:

SP500 Technical Analysis

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