July 19th, 2018: SP-500 Chart Update
Posted by pugsma on July 19, 2018
5:30 pm EST: The primary count has been split into to subtly different wave formations (green and blue). Both of these counts point much higher to a P5-C1 top at 2917 to 3041 late in year 2018. The primary (green) count is in a wave (3) of minor 3 of major [5]-P5-C1 move higher and will move toward the wave (3)=1.23(1) = 2900 target with little to no pull-backs (lock-out rally). The alternate (blue) count version has wave (1) of minor 3 ending here near the 2807 pivot, which should be followed by a wave (2) pull back to the 50% Fib at 2757 before the wave (3) of minor 3 up move begins in unrest.
The old alternate (red) count with a P5-C1 top at 2871 has been re-introduced. The 2817 high is slightly above a 78% Fibonacci retracement (2798) 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.
Enjoy your weekend !
SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=3d8547a9-17de-40e8-aaa1-41752630d6e8
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
SP-500 weekly chart:
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