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May 15th, 2020: SP-500 Chart Update

Posted by pugsma on May 15, 2020

2:55 pm EST (Updated 4:00 pm EST):   The debate here is where does the wave minute (1) of minor 5 of major [1]-P1-C3 end.

The primary (green) count is that wave iii-(1) is on going and a strong close today that should push the SP500 price towards the iii=1.62*i target of 2877.   And the minute (1) wave should reach the 2900 to 2910 area early next week, before the minute (2) wave pull-back.

There is also alternate (blue) count that has minute (1) complete today at 2862, which could produce a drop for minute (2) to the 50%/62% Fibs at 2815 to 2803 going into the weekend.

The minor 5 targets are at M5=0.62*M1 = 3042 (blue) to M5=0.78*M1 at 3113 (green).

Have a great weekend !!!

SP-500 15-min chart (2:50 pm EST):

SP500 Technical Analysis

SP-500 60-min chart:

SP500 TEch

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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