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    SCI-SCV, SCA-SCC: Super Cycle
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July 29th, 2021: SP-500 Chart Update

Posted by pugsma on July 29, 2021

2:46 pm EST: The SP-500 gapped up form 4400 to 4403, climbed to 4430 and traded sideways…

The primary (white/green) wave count is the major [3]-P1-C3 wave continuing higher towards the major [3]=1.50[1] target at 4528 or even as high as the [3]=1.62[1] target at 4652. Once major [3] ends sometime in August, the major [4] wave should correct roughly -7.9% to a 23% Fibonacci retracement at 4169 (basis major [3] ending at 4528) by mid-October. From the major [4] low in October, the major [5] wave will target 4981, where [5]=0.78[1], to complete Primary 1 (P1) of Cycle 3 (C3) in the spring of 2022.

The alternate (blue) wave count is that major [4] ended at 4057 back in May 2021, as originally suggested, and that the major [5] wave got of to minor 1, 2 start at 4394 and 4233. Thus, the minor 3 of major [5] wave up is well underway since the recent minor 2 low at 4233 and will target the minor 3 = 1.62*minor 1 area at 4779. Minor 4 of major [5] will hold above the 38% Fib at 4571 and minor 5 of major [5] will challenge the 5000 level into next spring to complete the Primary 1 (P1) of Cycle 3 (C3) wave.

Note: A drop below 4373, makes the primary wave count topping process likely complete. However, both wave counts remain valid above the recent 4233 low.

Have a great weekend !

SP-500 Seasonality: Peaks in August and Falls into 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

SP-500 weekly chart:

SP500 Technical Analysis

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