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May 3rd, 2019: SP-500 Chart Update

Posted by pugsma on May 3, 2019

4:20 pm EST:  Today’s SP-500 price action went precisely has forecast yesterday (see the 15-min chart from May 2nd).   The move up to 2954 is wave minute (1) of minor 5 of major [3]-P5-C1.  Major [3] target remains at 3013 and P5-C1 at 3051, where P5=P1.

Note:  It’s important here to point out that now that the SP-500  price has exceeded the previous all-time high of 2941 from September of 2018, the P5-C1 wave has satisfied its requirement.  Meaning the P5-C1 top could be in place at 2954 or very close to in place (i.e. primary count P5=P1 target of 3051).  A break below 2852 (yellow line on 60-min chart) would be the first warning sign of a P5-C1 top.

Have a great weekend !!!

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

SP-500 weekly chart:

SP-500 Technical Analysis

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