April 30th, 2020: SP-500 Chart Update
Posted by pugsma on April 30, 2020
4:45 pm EST: The SP-500 gapped down from 2639 to 2930, dropped to 2892 mid-day and closed at 2912.
The SP-500 just completed the most bullish month (13%) in over 30 years. An appropriate kick-off to the new 15+ year Cycle 3 (C3) of Super Cycle V (SC-V) wave. The initial target of 2856 for the major [1]-P1-C3 wave that I established near at the beginning of April was met and exceeded at 2954, thus far. The 2941 and 3028 pivots, as well at the 200-day SMA at 3005 should help to terminate this impressive major [1] wave.
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, minute (3) completed at 2954 and minute (4) likely completed at 2892 a 38% Fib retrace. The minute (5) = (1) target is at 3009. This primary (green) count remains valid above the minute (1) high of 2845.
The alternate (blue) count is that major [1]-P1-C3 topped at 2954 and major [2] wave down is underway headed to at least the 38% Fib 2664. The alternate (blue) count remains valid below 2954.
SP-500 5-min chart:
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
SP-500 weekly chart:
SP-500 monthly chart:
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