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September 30th, 2019: SP-500 Chart Update

Posted by pugsma on September 30, 2019

7:00 pm EST:  Both near-term options still alive…

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 2946 and a yet to come a minor 5 of major [5] wave toward the P5=P1 target of 3051 (Alternate Blue).

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:  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).

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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