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June 22nd, 2022: SP-500 Chart Update

Posted by pugsma on June 22, 2022

5:35 pm EST: The SP-500 gapped down from 3765 to 3735, quickly hit 3718 (day’s low), rose to 3802 (day’s high) and closed at 3760.

Technical Indicators: Print SharpCharts from StockCharts.com

Wave Counts:

  1. The primary (white/green) wave count is that minute (5) of minor 5 of major [C]-P2-C3 completed at 3637, where [C]=1.38[A] at 3665. The Minute (1) of minor 1 of major [1]-P3-C3 wave completed at 3779 and minute (2) wave at 3718. The minute (3) target area is 4003, where (3)=2.0(1). Minor 1 should reach the 4086 pivot area. Note: The primary (white/green) count if valid above 3637.
  2. The alternate (blue) count is a slight variant of the primary (white/green) count, where minute (3) of minor 5 ended at 3637 and the current move up is a minute (4) wave bounce to the 38% Fib of 3838. Once minute (4) wave completes, the final minute (5) of minor 5 of major [C] wave should drop below 3637 to where [C]=1.62[A] at 3947 and the 50% Fib retrace of P1-C3 is at 3505. Note: The alternate (blue) count is valid below 4099.
  3. The alternate (red) count is that the minor 3 of major [C]-P2-C3 is underway since minor 2 completed at 4117. The first minute (1) of minor 3 wave completed at 3637 and this move up the minute (2) wave bounce to a 50%/62 Fib at 3908 to 3978. Once the minute (2) of minor 3 wave completes, the minute (3) of minor 3 wave will head much lower to at least where (3)=(1) at 3371. The minor 3=1 target is at 3350. Ultimately, major [C]-P2 should head towards the 62% Fib P1-C3 at 3190 and where [C]=2.0[A] at 3229. Note: The alternate (red) count if valid below 4177.

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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