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June 5th, 2020: SP500 Chart Update

Posted by pugsma on June 5, 2020

1:00 pm EST:  The SP-500 gapped up from 3112 to 3164 and hit a high of 3212.

The primary (white/green) wave count is that the minor 5 of major [1] wave is likely going to extend toward the minor 5 = 1.62*minor 1 target at 3504.  Since minor 3 ended early at 2955, just above just above the minor 3 = minor 1 target of 2892, the minor 5 wave will often extend.   Within minor 5 the minute (1) wave ended at 2980 and the minute (2) wave at 2934.  This means that the typical minute (3) = 1.62(1) target is at 3279.  A 23% Fib for minute (4) is at 3199 and then a minute (5) =(1) is at 3412 (near the all-time high of 3394).

Have a great weekend !

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

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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