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May 13th, 2020: SP-500 Chart Update

Posted by pugsma on May 13, 2020

1:50 pm EST:  The SP-500 opened gap down from 2870 to 2865, dropped quickly to 2839, bounced to 2874 and dropped again to 2799.

The primary (green) count is that minor 4 of major [1] is playing out as a Zig-Zag (to alternate with the minor 2 expanded flat) with a target at 2789, where (c)=(a).   Thus far, 2799 has been hit.  That could be it for minor 4 or there could be one more drop to 2789 later today.  The primary (green) wave count remains valid for minor 4 above the minor 1 high at 2637.

SP-500 5-min chart:

SP500 Technical Analysis

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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