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August 10th, 2020: SP-500 Chart Update

Posted by pugsma on August 10, 2020

5:10 pm EST:   The SP-500 price gapped up from 3351 to 3356, hit 3362, dropped quickly to 3335 then climbed all day to closed at 3360 near the 3363 high.

Looking for a major [1]-P1-C3 top between the minor 5 = 0.88*minor 1 target of 3357 (blue) and the minor 5 = minor 1 target of 3411 (white/green).  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

SP-500 daily chart:

SP500 Technical Analysis

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