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September 10th, 2019: SP-500 Chart Update

Posted by pugsma on September 10, 2019

4:45 pm EST:  Today’s small price movement kept all charts and wave counts the same.

The primary (white/green) wave count look particularly good.

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

28 Responses to “September 10th, 2019: SP-500 Chart Update”

  1. rat8nine said

    fb 5 – initial move as of now:

  2. pugsma said

    How’s that minute (3) = 1.62(1) = 3005 target looking ?

  3. pugsma said

    And don’t forget that the pattern break out above the 2941 pivot measured move target is 3060.

    2941 – (2941-2822) = 3060

  4. JW said

    IWM joining the party (+1.74% today), while NYAD continues its relentless clime to ATHs and intraday NYMO continues to show strength (currently at 60)

  5. hmeda said

    A high closing $TICK (792) signals a pullback around the corner.

    • hmeda said

      Also, $RUT close 25 points above it’s upper BB. Appears extremely overbought.

    • pugsma said

      Very likely now SP500 makes a new all-high above 3028, before any significant pull-back.

      • rat8nine said

        I keep wondering in what way the market will try to fool us all at the top and make it look like it will never turn. My guess is that perhaps some of the major stocks that did not make higher highs over the summer might do so, aapl looks like a possible candidate. But that would not be a big surprise. A bigger surprise might be iwm making a higher high. I notice that iwm is suddenly accelerating after being a laggard, much like dia did last August – September.

  6. pugsma said

    No need to update the SP500 charts tonight…Primary (white/green) wave looks perfect!

  7. pugsma said

    ES Futures up at 3020, SP-500 3022 equivalent.

  8. pugsma said

    Yes, a 50-year US Treasury bond at 2.5% is just what this world needs. LOL

    Maybe if we can get a 1000-year bond the rate can be above 3% ?

  9. rat8nine said

    Steve, that looks like minor 3, as opposed to (3) of 3….what do you see here?

  10. pugsma said

    Wait, what? Oh yes, Cycle 2 wave down to 1800.

  11. pugsma said

    The Thursday SP500 update will likely be late tonight, after 8pm EST.

    • pugsma said

      If 3021 completed wave minute (3) of minor 3, then we are looking for a 23% Fib retrace for wave minute (4) at 2979.

      It would make sense for minor 3 of major [5] to make a new all-high above 3028. Next Target above M3=1.62*M1 = 3015 is M3=2.0*M1 = 3068.

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