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July 11th, 2018: SP-500 Chart Update

Posted by pugsma on July 11, 2018

3:35 pm EST:   The primary count has been split into to subtly different wave formations (white and blue).  Both of these counts point much higher to a P5-C1 top at 3041 late in year 2018.

The old alternate (red) count with a P5-C1 top at 2871 has been re-introduced.  The recent 2796 high is precisely a 78% Fibonacci retracement of the drop from 2872 to 2533.   This looks like a possible major [2]-PA-C2 flat.  The next wave down would be a devastating (to the bulls) major [3]-PA-C2 wave toward [3]=1.62[1] target at 2247.  A break below the recent low of 2692 would make this alternate (red) count much more likely.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=c79fab3a-201d-4f05-8094-f922bfc48460

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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