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June 17th, 2019: SP-500 Chart Update

Posted by pugsma on June 17, 2019

5:55 pm EST:    The NYSE A-D making a new closing all-time high on this past Thursday’s (6-13-19) says that a new all-time SP-500 price high is likely soon.   The short-term (a day or three) wave count is unclear as a triangle has formed.  Typically in a strong up-trend coming into a triangle the price will break-out in the path of the up-trend.  Meaning that this triangle is more like a wave (4) of minor 1 of major [3]-P5-C1 (alternate blue) than a wave (b) of minor 2 of major [3]-P5-C1 (primary white/green).  We will find out the answer soon.  However, regardless of which short-term wave count is followed the SP-500 should break above 2954 soon, as the SP-500 is in a major [3]-P5-C1 wave headed much higher.

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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