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August 23rd, 2018: SP-500 Chart Update

Posted by pugsma on August 23, 2018

6:00 pm EST:  With the SP-500 new All-time high at 2873 this week, EVERYTHING required to satisfy the P5-C1 top is now in place.  There is building negative divergence (-DIV) across all time frames from the weekly to the 4-hr charts.   Eventually this -DIV on the weekly will usher in the Cycle 2 (C2) wave 50% retrace towards 1792.

The minute (2) of minor of minor 5 of major [5]-P5-C1 wave has already pulled back 19 points to 2854.   The typical Fibonacci targets is the 50% retrace at 2838.   After minute (2) complete, there are only 3 waves (3), (4), (5) left to the top of P5-C1.  The ideal target for the P5-C1 top is major [5]=[1] = 2917.

Have a great weekend !

SP-500 15-min chart real-time link:   http://www.freestockcharts.com?emailChartID=9f60a20c-36f6-4215-8333-5cbd207bebb4

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

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