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June 7th, 2018: SP-500 Chart Update

Posted by pugsma on June 7, 2018

3:55 pm EST:   The primary (green) count target of 2782 for minute (1) of minor 3 of major [5]-P5-C1 was nearly hit today at 2780.  Looking for minute (2) correction to the 38%/50% Fib at 2740/2729.  The minute (3)=1.38*(1) target is 2874.   The minor 3=1.62*minor 1 target is 2915 and the major [5]=[1] target is 2917.

There is possibility here the SP-500 price is in an alternate (blue) count that is still inside a larger major [4]-P5-C1 contracting triangle, where minor D is completing here near the 2780 pivot.    A wave minor E lower to the 2600/2640 would be next to complete the major [4] triangle.

House Keeping:  The blog summer (Memorial Day to Labor Day) schedule is now in effect.   There will be no blog posts made on Fridays during the summer.

Have a wonderful weekend !!!

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=82407c10-0882-4275-bcdf-e63e450de4ba

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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