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August 18th, 2023: Quick SP-500 Chart Update

Posted by pugsma on August 18, 2023

12:35 pm EST: The SP-500 gapped down from 4370 to 4345, quickly hit 4335 (day’s low), then rallied to 4372 to close the gap…

Note: On the daily chart the August 2022 high at 4326 is key support. Also, on the 60-min chart 4328 is the wave (4) of minor 3, which is the wave 4 of previous degree and a typical minor 4 retrace target. Finally, the 38% Fibonacci retrace for minor 4 sits at 4287.

Have a great weekend!

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 daily chart:

SP500 Technical Analysis

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