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May 28th, 2020: SP-500 Chart Update

Posted by pugsma on May 28, 2020

12:25 pm EST:   Since the minor 4 low at 2767, I’ve had minor 5 targets at 3042 (minor 5 =0.62*minor1) to 3212 (minor 5 = minor 1).  The major [1] wave is free to complete anywhere in this 3042 to 3212 range.  The mid-range between 3113 and the 3154 pivot agrees with a grind higher to the rectangle (I.e. the month long consolidation between 2767 to 2955) measured move target at 3143.   Yesterday’s drop to 2970 and rapid recovery to close higher at 3036 was likely the back-test of the top of the rectangle pattern leading to this current grinder higher to complete the pattern.

Below on the 5-min and 15-min charts, I have shown two possible wave counts for completion of the final minute degree waves of minor 5 of major [1].

House Keeping:   As usual, between Memorial Day and Labor (May 25th to Sept 7th), I will not be making blog posts on Friday’s.

The next blog post will be on Monday, June 1st under the new June monthly password.  If  you are May free trial member, then there is option to buy the pro-rated Q2 (June) at $60 or get June for free by purchasing Q3-Q4 (July-Dec) for $360.  Link:  http://pugridironsma.blogspot.com/

Have a great weekend !

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 Analaysis

SP-500 daily chart:

SP500 Technical Analysis

SP-500 weekly chart:

SP500 Technical Analysis

SP-500 monthly chart:

SP500 Technical Analysis

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