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July 22nd, 2020: SP-500 Chart Update

Posted by pugsma on July 22, 2020

5:05 pm EST:  The SP-500 opened flat at 3257, traded sideways and then rose to a days high of 3279 before closing at 3276.

The primary (white/green) count is that minute (5) of minor 5 of major [1]-P1-C3 is headed for the typical minute (4) triangle target at 3242, which is in the area of the minor 5 = 0.78*minor 1 = 3313.

The alternate (blue) count is that minute (3) of minor 5 of major [1]-P1-C3 is headed for the (3)=1.62(1) target at 3308.  Once minute (3) completes, minute (4) should retrace 23% to 3237 before minute (5) targets (5)=(1) of 3427, which is in the area of the minor 5 = minor 1 = 3412.

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

 

SP-500 4-hr chart:

SP500 Technical Analysis

SP-500 daily chart:

SP500 Technical Analysis

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