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August 25th, 2022: SP-500 Chart Update

Posted by pugsma on August 25, 2022

5:30 pm EST: The SP-500 gapped up from 4141 to 4142, rose to 4184, dropped to 4153, and then rallied into to the close to close on the high a 4199.

Technical Analysis: Print SharpCharts from StockCharts.com

  1. The primary (white/green) wave count is that minor 3 of major [1]-P3-C3 completed at 4236, just below where minor 3=2.0*minor at 4340 and at the 200-day SMA (4326). The minor 4 wave ended at 4120. The minor 5 of major [1]-P3 wave will move above 4326 and should target 4429, where minor 5=minor 1. Note: The primary (white/green) count minor 4 of major [1] wave up remains valid above 4120.
  2. The alternate (blue) count is that major [1]-P3-C3 topped at 4326 and the major [2] correction down to the 50%/62% Fib at 3983/3899 is underway. The first minor A wave completed at 4120 and now a minor B bounce to the 38%/50% Fib at 4198/4223 is underway. Once minor B completes, the minor C wave down will drop towards 3982/3899. Note: This alternate (blue) wave count remains valid below 4326 will be confirmed on a break of the 4120.

Have a great weekend !!!

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

16 Responses to “August 25th, 2022: SP-500 Chart Update”

  1. pugsma said

    Tomorrow, Friday Sept 26th at 10 am EST (9 am CDT) is Powell’s Jackson Hole Speech.

    Amazing how the SP500 is set-up going into this speech perfectly (at 4200) to break up +200 points (4400 primary count target) or down 200 points (4000 alt blue count target)

  2. stevesumma said

    Atlanta Fed President Bostic on Bloomberg is saying Fed leans to 50 BP for next hike.

  3. pugsma said

    Remember the key levels to watch are 4223 up (primary) and 4120 down (alt blue). Anything within that range is noise.

    I will indicate that Bitcoin is already in an alt(blue) major [2] wave down since $25,214 recent high. BTC has been correlated well with future QQQ moves. So alt blue is reasonably likely here…

  4. MS53 said

    Are we still looking for a potential IHS on the SP500 ?

  5. pugsma said

    There’s the break of the 4120.

    However both the NYMO and NYSE A-D Line Cumulative have a potential +DIV depending on how they close today wrt the SP500.



  6. pugsma said

    4080 is still very important as it’s the neckline of a bearish H&S pattern on the 15-minute chart.

    Head at 4326, neckline 4080 and target at 4080 – (4326-4080) = 3834 (alt blue major [2]).

    • pugsma said

      Bulls are in jeopardy of giving back almost all the gains from June low 3637 on a break below 4080.

      • pugsma said

        Still a very small amount of life left in the primary count minor 4 of major [1] above 4080 and with the potential +DIV on NYMO and NYSE A-D Line Cumulative (close today matters).

    • PHIL V said

      Is the Alt Blu cnt now likely to be the Primary or is there still some life left in the Primary cnt, current at your orig FIB 1.38% (4102)

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