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March 28th, 2019: SP-500 Technical Analysis

Posted by pugsma on March 28, 2019

4:20 pm EST:  The primary (white/green) wave count is that wave iii-(1) of minor 3 of major [5]-P5-C1 is underway with a target at 2861, where iii=1.62*i = 2861.  Wave (1) of minor 1 should reach the 2872 pivot area.   The NYSE A-D Line broke-out to a new high today, exceeding the level reached at the SP-500 2852 high.  This typically signals the SP-500 price is about to catch-up and move higher (i.e. per the primary white/green wave count).

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 wave (b) of minor 2 looks like a triangle wave that completed at today’s close of 2816.  Next should be a wave (c) of minor 2 drop to where (c)=(a) at 2755.   The rising 50-day SMA (2751) is nearing a bullish “golden cross” of the flat 200-day SMA at 2755 and there is key 2759 pivot support.

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

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