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November 29th, 2018: SP-500 Chart Update

Posted by pugsma on November 29, 2018

6:40 pm EST:  The primary (red) count is that minute (1) of minor C of major [2]-PA-C2 completed today at 2754.  Next should be a mild pull-back for wave minute of (2) to the 38%/50% at 2707/2693.   After the minute (2) wave completes, the minute (3) of minor C should head much higher above 2800.   The C=A target is at 2842 for the completion of major [2], which is near the 78% Fibonacci retrace at 2867.

The alternate (blue) count is that minor 3 of major [5]-P5-C1 is underway of the 2631 minor 2 low.  The minor 3 = 1.62*minor 1 target is at 2973.   The major [5]=[1] target is 2988 and double bottom (2604/2631) target is at 3026 for the completion of P5-C1.

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

5 Responses to “November 29th, 2018: SP-500 Chart Update”

  1. rat8nine said

    spx 15 and 60

  2. pugsma said

    Well the SP-500 price closed at 2759 above 2747, so wave (2) might have been a shallow flat and wave (3) Up is already underway to 2800+.

    The 200-day SMA is 2762 and 50-day is 2775. A “gap and go” Monday clears that early and likely leads to big SPX Gains in December

    • pugsma said

      Remember I stared over a week ago that my technician analysis and Ewave predicted two things:

      1) Fed Rate Hike Slow down and pause. Done!

      2) USA and China Trade Deal….

      • Rodney Mruk said

        I have remembered. I am hopeful a deal can be reached with China that is win-win, so to speak. Interesting and amazing prognosticating. Thank you very much. Question: Is there a criteria to look for to determine which is most probable, the primary (green & red) or the alternate (blue)? Or, at what price point is the red count ruled out? Thanks in advance. Have a great weekend everyone.

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