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April 29th, 2020: SP-500 Chart Update

Posted by pugsma on April 29, 2020

1:00 pm EST:   The SP-500 gapped up from 2863 to 2918 and hit 2950 by mid-day.

The primary (green) count is that minor 5 of major [1]-P1-C3 is completing at its measured move target at 2983 [where 2852 + (2852-2721) = 2983].  Within minor 5, the minute (5) = (1) target is at 2979.

The alternate (blue) count is that major [1]-P1-C3 is headed above the all-time high of 3394.  Major [1] is still in the minor 3 wave that is headed for typical minor 3 = 1.62*minor 1 at 3168.   The minor 4, 23% Fib is at 3002 and the final minor 5 push target is at minor 5 = minor 1 at 3447 to complete major [1].

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

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