May 19th, 2020: SP-500 Chart Update
Posted by pugsma on May 19, 2020
11:15 am EST: The SP-500 gapped down from 2953 to 2948 and has hit 2938 thus far.
The primary (green) count is that minor 5 of major [1] is headed to the higher targets of 3113 (where minor 5 = 0.78*minor 1) to 3212 (where minor 5 = minor 1). Wave minute (3) should target the (3)=2.62(1) area of 3047 or (3)=4.25(1) = 3188.
The alternate (blue) count is that minor 5 of major [1] is headed to the lowest target at 3042, where minor 5 = 0.62*minor 1. Wave minute (3) complete at 2963. Minute (4) should retrace between the 23% and 38% Fib at 2931 to 2909. Minute (4) so far looks like an expanded flat or triangle wave. Basis minute (4) ending at 2931 the minute (5)=(1) target is at 3017.
SP-500 5-min chart:
SP-500 15-min chart:
SP-500 60-min chart:
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