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September 6th, 2018: SP-500 Chart Update

Posted by pugsma on September 6, 2018

4:45 pm EST:   Some irony here at the SP-500 price high of 2917 in late August 2018.  This 2917 price in August 2018 has been a long standing P5-C1 target, where wave major [5]=[1] and the Fibonacci time sequence cycle degree target.   However, the way the SP-500 approached this level under solid momentum and tremendous market breadth ($NYSE A-D Line new all-time highs), makes it unlikely to be the final Cycle 1 (C1) high.   The triangle target of 3041 up to the classic TA consolidation break-out target of 3211 are more likely now (see blue wave count).

Note: It will take a break below 2802 and 2791 to begin to confirm the P5-C1 top.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=10fb80b0-2b47-4eb7-be22-4d2adc8eaaaf

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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