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October 8th, 2019: SP-500 Chart Update

Posted by pugsma on October 8, 2019

4:55 pm EST:  The primary (red) wave count is that wave iii-(1) of minor 3 of major [1]-PA-C2 is underway with the target are 2823, where iii=1.62*i.  Wave minute (1) of minor 3 should reach the 2807 pivot before the minute (2) wave bounce to a 50% Fib at 2884.  The minor 3 target is at 2689, where minor 3 =1.62*minor 1.   Ultimately the major [1] target should be the 2597 pivot area.   The primary (red) wave count remains valid below the 2960 minor 2 wave high.

The alternate (blue) wave count is that wave minute (2) of minor C of major [5]-P5-C1 is complete are near complete at the 62%/78% Fib of 2895/2979.   The minute (3) wave should reach the 3048 target, where (3)=1.62(1).   Ultimately the P5=P1 target is at 3051 to complete P5-C1.  The alternate (blue) wave count remains valid above the minor B low at 2856.

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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