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August 2nd, 2018: SP-500 Chart Update

Posted by pugsma on August 2, 2018

3:55 pm EST:   Primary (green) count has a found at wave (4) of minor 3 of  major [5]-P5-C1 low at 2796, which is just above a typical 38% Fib retrace at 2789.

The alternate (blue) count needs a new low below 2796 before breaking above 2848 for wave (2) of minor 3 of major [5]-P5-C1.

Have a great weekend !!!

SP-500 15-min chart real-time link:

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

SP-500 weekly chart:

SP500 Technical Analysis

7 Responses to “August 2nd, 2018: SP-500 Chart Update”

  1. kazoom1618 said

    VIX daily – BB width now at the lowest for this year 17.2 – but it got down below 12 last year, so is could be primary or alt:

  2. pugsma said

    On the alt blue count b-(2) I had a slight Fib retrace target miscalculation.

    78% = 2837
    88% = 2842

    Obviously early next week should separate the to competing short-term wave counts as the SPX has retraced to 2840 and if breaks above 2848, then the alt blue count is eliminated.

  3. kazoom1618 said

    SPX 60min – notice how the blue count c = 1.62 x a also fills the gaps below (in yellow):

  4. rat8nine said

    spy 60 – satisfied the primary with a double tap at the .382 area, and now up at where x marks the spot, the blue median line, a possible retest of the upper line of the unproven purple set, which gets deleted if the primary wins out, and where 284.37 – 279.16 = .886 at 283.78. The counts should be sorted out very quickly:

  5. MS53 said

    A pullback from this mid 2840’s area could just be a wave ii of (5) that would setup potential IHS with 2900 target area.

  6. kaneoahu said

    Primary it is… Long live the King.

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