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June 29th, 2022: SP-500 Chart Update

Posted by pugsma on June 29, 2022

1:10 pm EST: The SP-500 opened flat from 3821, dripped to 3799, rose to 3837 and dropped to 3799…

Technical Indicators: Print SharpCharts from StockCharts.com

Wave Counts:

  1. The primary (white/green) wave count is that P2-C3 completed at 3637, where [C]=1.38[A] at 3665 and the P3-C3 wave up to new all-time high is just getting underway. Minor 1 of major [1]-P3 completed at 3946. The minor 2 wave should retrace to the 50%/62% Fibs are 3791 to 3754, before minor 3 targets 4292, where minor 3 = 1.62*minor. Ultimately the major [1]-P3 wave should target the 4486 area into years end. Note: The primary (white/green) count minor 2 of major [1] wave remains valid above 3647.
  2. The alternate (blue) count is that P2-C3 is continue toward the 50% Fib retrace of P1-C3 at 3505. Note: The alternate (blue) count remains valid below 3946.
  3. The alternate (red) count is that major [A]-P2-C3 completed at 3637. Next is a major [B]-P2 wave that will retrace to the 38% Fib at 4086. Minor A of major [B] competed at 3946. The minor B wave should retrace to the 50%/62% Fib area of 4791 to 4754. After minor B completes, the minor C=A target is at 4100. Once major [B]-P2 completes, there will another large leg down for major [C]-P2 toward the 62% Fib retrace of P1-C3 at 3190. Note: The alternate (red) count minor B of major [B] wave remains valid above 3637.

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

SP-500 monthly chart:

SP500 Technical Analysis

2 Responses to “June 29th, 2022: SP-500 Chart Update”

  1. pugsma said

    More market historical stats, that lean 80% (4 of 5) IT bullish.

    https://twitter.com/ukarlewitz/status/1542528698774986753?s=21&t=EhYMuiU6jLlH1QaRI1gXRg

  2. William Waggoner said

    More bullish historical stats…

    https://twitter.com/sentimentrader/status/1542174673622138881?s=21&t=WQir1KfOcayvHFRBQtHkpA

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