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11:35 am EST: The SP-500 gapped up from 43863 to 4384, rose quickly to hit 4430…
The primary (green) count is that major [3]-P1-C3 topped at 4546, just above the major [3]=1.50[1] target of 4528. The major [4] wave correction towards the 23% Fib retrace of major [3] at 4183 completed at 4279. For the major [4] wave, minor W completed at 4306. The minor X wave completed 4465, just above the 62% Fib retrace 4455. The minor Y of major [4] wave down completed at 4279, near the Y=0.78W = 4278 . The first minor 1 wave up from major [5]-P1 is underway and should target the all-time high at 4546. Minute (1) of minor 1 completed at 4366. Minute (2) at 4290. The minute (3) target is (3)=2.62(1) at 4518. Minute (4) should pull-back the 23% Fib at 4466 and minute (5) should rise the (5)=(1) target at 4553. Note: The primary (green) wave count remains as labeled remains valid above the major [4] low at 4279.
The alternate (blue) wave count is that major [3]-P1-C3 topped at 4546, just above the major [3]=1.50[1] target of 4528. The major [4] wave correction towards the 23% Fib retrace of major [3] at 4183 is underway. For the major [4] wave, minor W completed at 4306. The minor X wave completed 4465, just above the 62% Fib retrace 4455. The minor Y of major [4] wave down is underway and has target at Y=W at 4225. Minute (a) of minor Y completed at 4289 and minute (b) is retracing to the 78%/88% Fib at 4424/4443. Once minute (b) completes, the minute (c) of minor Y down will be underway and will break below 4279. Note: The alternate (blue) wave count remains as labeled remains valid below the minor X wave high of 4465.
11:55 am EST: The SP-500 gapped down from 4346 to 4320, dropped quickly to hit 4290…
The primary (green) count is that major [3]-P1-C3 topped at 4546, just above the major [3]=1.50[1] target of 4528. The major [4] wave correction towards the 23% Fib retrace of major [3] at 4183 is underway. For the major [4] wave, minor W completed at 4306. The minor X wave completed 4465, just above the 62% Fib retrace 4455. The minor Y of major [4] wave down completed at 4279, near the Y=0.78W = 4278 . Note: The primary (green) wave count remains as labeled remains valid above the major [4] low at 4279.
The alternate (blue) wave count is that major [3]-P1-C3 topped at 4546, just above the major [3]=1.50[1] target of 4528. The major [4] wave correction towards the 23% Fib retrace of major [3] at 4183 is underway. For the major [4] wave, minor W completed at 4306. The minor X wave completed 4465, just above the 62% Fib retrace 4455. The minor Y of major [4] wave down is underway and has target at Y=W at 4225. Minute (a) of minor Y completed at 4289 and minute (b) retrace to near the 50% Fib (4377) at 4366. Minute (c) of minor Y down is underway. Note: The alternate (blue) wave count remains as labeled remains valid below the minute (b) or minor Y wave high of 4366.
The alternate (red) wave count is that P1-C3 topped at 4536 as an ending diagonal for major [5]-P1-C3. The P2-C2 bear market is underway with targets at the 38% Fib of P1 = 3651 (-19.6% Bear Market) to the 50% Fib of P1 at 3369 (-25.9% Bear Market). The major [A] wave down should target the 3950 pivot area. Minor 1 of major [A] completed at 4306. The minor 2 wave completed at 4465, near the 62% Fib of 4455. The minor 3 wave is underway with a minor 3 = 1.62*minor 1 target is 4076. Within minor 3, minute (1) completed at 4289 and minor (2) at 4366. Minute (3) down is underway with a target at 4080, where (3)=1.62(1). Note: The alternate (red) count as labeled remains valid below the minute (2) of minor 3 wave high 4366. The alternate (red) count is confirmed on a break below the May low of 4057.
10:45 am EST: The SP-500 gapped up from 4300 to 4310, rose quickly to hit 4355…
The primary (green) count is that major [3]-P1-C3 topped at 4546, just above the major [3]=1.50[1] target of 4528. The major [4] wave correction towards the 23% Fib retrace of major [3] at 4183 is underway. For the major [4] wave, minor W completed at 4306. The minor X wave completed 4465, just above the 62% Fib retrace 4455. The minor Y of major [4] wave down completed at 4279, near the Y=0.78W = 4278 . Note: The primary (green) wave count remains as labeled remains valid above the major [4] low at 4279.
The alternate (blue) wave count is that major [3]-P1-C3 topped at 4546, just above the major [3]=1.50[1] target of 4528. The major [4] wave correction towards the 23% Fib retrace of major [3] at 4183 is underway. For the major [4] wave, minor W completed at 4306. The minor X wave completed 4465, just above the 62% Fib retrace 4455. The minor Y of major [4] wave down is underway and has target at Y=W at 4225. Note: The alternate (blue) wave count remains as labeled remains valid below the minor X wave high of 4465.
The alternate (red) wave count is that P1-C3 topped at 4536 as an ending diagonal for major [5]-P1-C3. The P2-C2 bear market is underway with targets at the 38% Fib of P1 = 3651 (-19.6% Bear Market) to the 50% Fib of P1 at 3369 (-25.9% Bear Market). The major [A] wave down should target the 3950 pivot area. Minor 1 of major [A] completed at 4306. The minor B wave bounce is underway with targets are the 50%/62% Fib of 4426/4455. Assuming minor 2 completes at the 50% Fib of 4426, the minor 3 = 1.62*minor 1 target is 4037. Note: The alternate (red) count remains valid below 4465 and is confirmed on a break below 4057.
6:45 pm EST: The SP-500 gapped up from 4306 to 4317, quickly hit 4331, dropped to the day’s low 4289, then rallied to 4375 and closed at 4357.
The primary (green) count is that major [3]-P1-C3 topped at 4546, just above the major [3]=1.50[1] target of 4528. The major [4] wave correction towards the 23% Fib retrace of major [3] at 4183 is underway. For the major [4] wave, minor W completed at 4306. The minor X wave completed 4465, just above the 62% Fib retrace 4455. The minor Y of major [4] wave down completed today at 4289, near the Y=0.78W = 4278 . Note: The primary (green) wave count remains as labeled remains valid above the major [4] low at 4289.
The alternate (blue) wave count is that major [3]-P1-C3 topped at 4546, just above the major [3]=1.50[1] target of 4528. The major [4] wave correction towards the 23% Fib retrace of major [3] at 4183 is underway. For the major [4] wave, minor W completed at 4306. The minor X wave completed 4465, just above the 62% Fib retrace 4455. The minor Y of major [4] wave down is underway and has target at Y=W at 4225. Note: The alternate (blue) wave count remains as labeled remains valid below the minor X wave high of 4465.
The alternate (red) wave count is that P1-C3 topped at 4536 as an ending diagonal for major [5]-P1-C3. The P2-C2 bear market is underway with targets at the 38% Fib of P1 = 3651 (-19.6% Bear Market) to the 50% Fib of P1 at 3369 (-25.9% Bear Market). The major [A] wave down should target the 3950 pivot area. Minor 1 of major [A] completed at 4306. The minor B wave bounce is underway with targets are the 50%/62% Fib of 4426/4455. Assuming minor 2 completes at the 50% Fib of 4426, the minor 3 = 1.62*minor 1 target is 4037. Note: The alternate (red) count remains valid below 4546 and is confirmed on a break below 4057.
10:10 am EST: The SP-500 gapped up from 4360 to 4370, rose to 4383…
The primary (green) count is that minor 1 of major [5]-P1-C3 topped at 4546. The drop to 4306 was a minor 2 wave that retraced to the 50% Fib of 4302. The minor 3 wave up is underway, to a first target area a 4907, where minor 3 = 1.23*minor 1. Within, minor 3, the first minor (1) wave competed at 4465. Wave (2) retraced to 4346 near the 78% Fib of 4341. Now wave (3) of minor is likely headed for the 4763, where (3)=2.62(1), see 15-min and 60-min charts for details. Note: The primary (green) wave count remains valid above the minor 2 wave low at 4306.
The alternate (blue) wave count is that major [3]-P1-C3 topped at 4546 just above the major [3]=1.50[1] target of 4528 and now a major [4] wave correction to the 23% Fib retrace of major [3] at 4183. Note minor 5 of major [3] played out as an ending diagonal. For the major [4] wave, minor W completed at 4306. The minor X wave completed 4465, just above the 62% Fib retrace 4455. The minor Y of major [4] wave down is underway and has target at Y=W at 4225. Note: The alternate (blue) wave count remains as labeled remains valid below 4465 or below 4546 IF the minor X of minor [4] wave were to stretch above 4465.
The alternate (red) wave count is that P1-C3 topped at 4536 as an ending diagonal for major [5]-P1-C3. The P2-C2 bear market is underway with targets at the 38% Fib of P1 = 3651 (-19.6% Bear Market) to the 50% Fib of P1 at 3369 (-25.9% Bear Market). The major [A] wave down should target the 3950 pivot area. Minor 1 of major [A] completed at 4306. The minor B wave bounce is underway with targets are the 50%/62% Fib of 4426/4455. Assuming minor 2 completes at the 50% Fib of 4426, the minor 3 = 1.62*minor 1 target is 4037. Note: The alt(red) count remains valid below 4546 and is confirmed on a break below 4057.
11:00 pm EST: The SP-500 gapped up from 4352 to 4362, rose to 4385…
The primary (green) count is that minor 1 of major [5]-P1-C3 topped at 4546. The drop to 4306 was a minor 2 wave that retraced to the 50% Fib of 4302. The minor 3 wave up is underway, to a first target area a 4907, where minor 3 = 1.23*minor 1. Within, minor 3, the first minor (1) wave competed at 4465. Wave (2) retraced to 4346 near the 78% Fib of 4341. Now wave (3) of minor is likely headed for the 4763, where (3)=2.62(1), see 15-min and 60-min charts for details. Note: The primary (green) wave count remains valid above the minor 2 wave low at 4306.
The alternate (blue) wave count is that major [3]-P1-C3 topped at 4546 just above the major [3]=1.50[1] target of 4528 and now a major [4] wave correction to the 23% Fib retrace of major [3] at 4183. Note minor 5 of major [3] played out as an ending diagonal. For the major [4] wave, minor W completed at 4306. The minor X wave completed 4465, just above the 62% Fib retrace 4455. The minor Y of major [4] wave down is underway and has target at Y=W at 4225. Note: The alternate (blue) wave count remains as labeled remains valid below 4465 or below 4546 IF the minor X of minor [4] wave were to stretch above 4465.
The alternate (red) wave count is that P1-C3 topped at 4536 as an ending diagonal for major [5]-P1-C3. The P2-C2 bear market is underway with targets at the 38% Fib of P1 = 3651 (-19.6% Bear Market) to the 50% Fib of P1 at 3369 (-25.9% Bear Market). The major [A] wave down should target the 3950 pivot area. Minor 1 of major [A] completed at 4306. The minor B wave bounce is underway with targets are the 50%/62% Fib of 4426/4455. Assuming minor 2 completes at the 50% Fib of 4426, the minor 3 = 1.62*minor 1 target is 4037. Note: The alt(red) count remains valid below 4546 and is confirmed on a break below 4057.
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