August 29th, 2019: SP-500 Chart Update
Posted by pugsma on August 29, 2019
10:45 pm EST: Both the bulls and bears have tried 3 times each to break the 2807 to 2941 pivot range during August. The winner of this range battle will likely win the war for the intermediate move up (primary green) or down (alternate blue). Rarely does a range hold on a 4th test, so the bulls clearly have the advantage after today’s move up to 2930, within 12 points of 2943 high. Should the bulls and primary (green) wave count win out, then a move up to at least the P5=P1 target of 3051 is likely. Specific wave count details are shown on the charts below.
Monday, September 2nd is the USA Labor Day Holiday (the unofficial end of summer here in the Northern Hemisphere). The USA markets will be closed on Monday. The next blog update will be on Tuesday, September 3rd. Have a wonderful long holiday weekend !
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
SP-500 weekly chart:
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