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November 1st, 2019: SP-500 Chart Update

Posted by pugsma on November 1, 2019

5:35 pm EST:   The primary (green) wave count P5-C1 target of 3051 has been hit and slightly exceeded.  The P5 Ending Diagonal (ED) maximum is at 3121, so that wave major [5]<[3]<[1].  Thus, the primary (green) count remains valid below 3121.

I have introduced a new alternate (blue) wave count where the P5 ED is only in the major [3] wave up now.  Thus, there will be a major [4] down and a final major [5] up yet to come that will take the SP-500 to the 3150 to 3200 into early year 2020.

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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