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September 11th, 2018: SP-500 Chart Update

Posted by pugsma on September 11, 2018

4:20 pm EST:   The primary (red) wave count is that Cycle 2 (C2) topped at 2719 in late August and the Cycle 2 (C2) wave down to a 50% Fib retrace of C1 is underway headed for at 1792.  Minute wave (1) hit 2864 and now minute (2) of minor 1 of major [1]-PA-C2 is headed to the 50%/62% Fib retrace target of 2891/2897.  Once wave (2) completes, minute wave (3) should drop towards the (3)=1.62(1) target at 2805.   The minor 1 target is at 2272.   This red wave count would go invalid above 2917.

The alternate (blue) wave count is in a wave iii of minute (3) of minor 3 of major [5]-P5-C1 is underway for the wave ii-(3) low at 2864.  The wave iii-(3) target is at 2979, where iii=i.  The wave (3) target is at 2994, where (3)=1.23(1).  And the minor 3 target is 3010, where minor 3 = 1.62*minor 1.  Ultimately, major [5]-P5-C1 should reach at least the major [4] triangle target at 3041.   The alternate blue wave count would go invalid on move blow 2802.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=c3b8158b-6771-42af-b35b-63b1ec7186d7

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

 

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