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June 13th, 2022: SP-500 Chart Update

Posted by pugsma on June 13, 2022

5:35 pm EST: The SP-500 gapped down from 3901 to 3838, hit 3751, rallied to 3813 and dropped to 3734 (day’s low) and closed at 3750.

Technical Indicators: Print SharpCharts from StockCharts.com

  1. The Trifecta SP-500 Buy Triggered at the Close Today, Monday June 13th.

Wave Counts:

  1. The primary (white/green) wave count is for a P2 major [A]-[B]-[C] single zig-zag, where one more lower low (i.e. below 3810) for minor 5 of major [C]-P2 is playing out to a target of 3665, where [C]=1.38[A].
  2. The alternate (blue) count is completely a different P2 wave count for a major [W]=[X]=[Y] double zig-zag that will reach at least the 50% Fib retrace of P1 at 3501. This alternate (blue) count certainly has a the “right look” when you compare some of the wave ratios between major [W] and major [Y].

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

One Response to “June 13th, 2022: SP-500 Chart Update”

  1. droc14 said

    Hi Steve – Assuming the alt blue plays out it would not surprise me to see the market “wait around” for July 13th in alt blue [4] in some triangle. If you go back to August 2011 after that hard move down the market was in a triangle for the better part of late August, September then bottoming in early October with the fed QE catalyst. This could be a very choppy, confusing difficult period to trade.

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