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August 4th, 2020: SP-500 Chart Update

Posted by pugsma on August 4, 2020

4:35 pm EST:  The SP-500 price gapped up from 3271 to 3287, hit a high of 3203 and then traded sideways to close at 3295.

Looking for a major [1]-P1-C3 top between the minor 5 = 0.78*minor 1 target of 3313 (white/green) and the minor 5 = minor 1 target of 3411 (blue).  Once complete the major [2] pull-back should target the rising 200-day SMA in the 3050 area going into the late September/October.

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

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