August 3rd, 2022: SP-500 Chart Update
Posted by pugsma on August 3, 2022
5:10 pm EST: The SP-500 gapped up from 4090 to 4108, rallied all day to hit 4167 (day’s high) and closed at 4155
Technical Indicators: Print SharpCharts from StockCharts.com
Wave Counts:
- 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 dropped to 3722, which is within the 62%/78% Fibs retrace area of 3754 to 3705. The minor 3 wave target is at 4222, where minor 3 = 1.62*minor 1. Within minor 3, minute (4) completed at 4080 and now minute (5) up is underway. Once minor 3 complete the minor 4 retrace target is the 23% Fib at 4107. Ultimately, minor 5 of major [1]-P3 wave should target the 4298 where minor 5=0.62*minor 1 or could climb as high as M5=M1 at 4416. Note: The primary (white/green) count minor 4 of major [1] wave up remains valid above the minor 1 high of 3946.
- The new alternate (blue) count is a slight variant of the primary (white/green) count that has the minor 4 of major [1] low at 4080 and the final minor 5 wave up to a target of M5=0.50*M1 at 4235. Note: The alternate (blue) count is valid above the minor 4 low of 4080.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
SP-500 weekly chart:
One Response to “August 3rd, 2022: SP-500 Chart Update”
Sorry, the comment form is closed at this time.
Preston Morris said
200 day is at $41,000.