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March 27th, 2019: SP-500 Chart Update

Posted by pugsma on March 27, 2019

5:00 pm EST: The SP-500 price tested the primary wave count minor 2 low at 2785, held and closed at 2805.   However, it’s still possible that the minor 2 wave might have a little more to drop to the 62%/78% Fibonacci retracement at 2774/2752 (alternate blue labels).  The rising 50-day SMA (2748) is nearing a bullish “golden cross” of the flat 200-day SMA at 2755 and the key 2759 pivot support.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=129daaa2-5399-4fcb-800b-4aa857fddd00

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

 

4 Responses to “March 27th, 2019: SP-500 Chart Update”

  1. rat8nine said

    spx 15 – the median line target area would be quite interesting in the event of the blue count…..the red line is where c=a, the magenta lines are at the .685 and .786 rt

  2. pugsma said

    So far small caps leading today, which if it continues is good for the primary count with minor 2 low in place at 2785.

    Also It’s very early but NYMO is above zero line. However, Only the close matters.

    • pugsma said

      If you look a 1 year chart of small caps IWM it shows a near text book Bullish large Inverse Head and Shoulder (IHS) pattern with head at 127.50, neckline at 157.50 and target of 187.50.

      Recent low was around 150.00 (right shoulder).

      Trading at 153, and needs to bust above 157.50 neckline to confirm the pattern and target.

  3. pugsma said

    If the SPX can break above 2830, then there is a double bottom (2785) target at 2830 + (2830-2785) => 2875 to complete wave (1) of minor 3.

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