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February 25th, 2020: SP-500 Chart Update

Posted by pugsma on February 25, 2020

2:45 pm EST:   The SP-500 gaped up at the open hit 3247 and has dropped over 100 points for a 2nd straight day to hit 3123 so far this afternoon.

Major [4]-P5-C1 wave has been underway since the major [3] 3338 high and is playing out as an expanded flat wave (3-3-5, A-B-C).    The 38% Fibonacci retracement off the major [3] high of 3338 is at 3107.   The 200-day SMA support is at 3045 and the breakout out support area on the SP-500 from the summer consolidation was at 3022.

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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