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June 25th, 2020: SP-500 Chart Update

Posted by pugsma on June 25, 2020

5:00 pm EST:  The SP-500 opened flat at 3050, sold off to 3024, then rallied to close at 3084.

Since the June 15th low at 2966 the SP-500 price has remained in a range below 3156.

The primary (white/green) count saw 3023 as the low for minute (2) of minor 5 of major [1]-P1-C3 and is looking for wave minute (3) move up to the (3)=1.23(1) target of 3258.   Ultimately the minor 5 wave should reach a target at between 3241 (minor 5 =0.62*minor 1) and 3411 (minor 5 = minor 1).   The primary (white/green) count is valid above 2966.

The alternate (blue) wave count is looking for the minor C = A target at 2889 to complete major [2]-P1-C3.  Within the minor C wave, i-(3) completed today at 3024 and the wave ii-(3) should retrace to the 50%/62% Fib of 3089 to 3105.  The alternate (blue) count is valid below 3156.

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 daily chart:

SP500 Technical Analysis

SP-500 weekly chart:

SP500 Technical Analysis

 

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