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August 8th, 2019: SP-500 Chart Update

Posted by pugsma on August 8, 2019

6:45 pm EST:  Today the SP-500 price moved up to the 2941 pivot resistance zone as expected.   This is a key resistance area were the 13-day EMA, 34-day EMA, and 50-day SMA cluster resides.  It also was the “gap fill” area from the last Friday to Monday drop.   A break above this 2941 pivot likely means a run to new all-time highs per the primary (white/green) wave count.  A failure at this 2941 pivot and a new low below 2822 is likely.   See the wave count details on the charts below.

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:

SP500 Technical Analysis

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