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July 23rd, 2020: SP-500 Chart Update

Posted by pugsma on July 23, 2020

3:15 pm EST:  The SP-500 opened flat from 3276, rose to the daily high at 3280 (a new recovery high) then fall all day long hitting 3223 before bouncing to 3240.

3280 becomes a potential top major [1]-P1-C3 top per the primary (white/green) count.   It will take a break below 3156 to confirm.

However, the alternate (blue) count is looking for a minute (4) of minor 5 of major [1]-P1-C3 wave that holds above the minute (1) high of 3156 with targets at the 23%/38% Fibs of 3216/3173 and then one more push higher in minute (5) to the minor 5 = minor 1 target of 3412.  This alternate (blue) count remains valid above 3156.

Have a great weekend !

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

SP-500 weekly chart:

SP500 Technical Analysis

 

This entry was posted on July 23, 2020 at 3:18 pm and is filed under Premium, SP-500. Tagged: , . You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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