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September 26th, 2019: SP-500 Chart Update

Posted by pugsma on September 26, 2019

3:55 pm EST:  C1 Top Soon…Two possible scenarios here:

1) A failed wave minor 5 at 3022 (just 6 points) short of the 3028 All-time High to complete major [5]-P1-C1.  (Primary Green).  There is a potential head and shoulders top at 3022, neckline at 2953 and target of 2884.   This 2884 target would be wave minor 1 of major [1]-PA-C2.

2) A minor 4 of major [5] wave drop to 2953 yet to come a minor 5 of major [5] wave toward the P5=P1 target of 3051 (Alternate Blue).  Wave minute (1) at 2990, wave (2) at 2964, minute (3) target at 3024 where (3)=1.62(1), wave (4) at 3010 23% Fib and wave (5) at 3047 where (5)=(1).

Scenario 1, a surprise failed minor 5 wave, would be very appropriate here at the Major [5]-P5-C1 Top! Failed 5th waves are rare and typically lead a sudden market crash…

House Keeping:  I’m leaving town for a long weekend.  There will be no update for Friday, Sept 27th.  If you are a quarterly subscriber, then you’ll need to make a payment before October 1st to continue with the service for Q4 (Oct-Dec).

Have a nice 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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