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:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
SP-500 weekly chart:
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