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February 23rd, 2016: SP-500 Mid-day Update

Posted by pugsma on February 23, 2016

10:40 am EST:   The primary (red) count is that major [2] of PC-C2 played out as a flat wave that re-tested the 1947 level and the 50% Fibonacci retrace to 1964.  Within major [2], wave minor C=A at 1945.    The major [3]-PC wave is now underway from the major [2] high of 1947.  The major [3]=[1] target is 1643.  The primary (red) count remains valid below 1947.

The alternate (blue) count is that major [2]-PC-C2 wave is playing out a Zig-Zag off the major [1] low of 1810.   The typical major [2] retrace targets are the 62%/78% Fibonacci retracements at 2000/2049.   The minor A of major [2] wave completed at 1947.  The minor B wave is now underway that should retrace 38%/50% to 1895/1879 before minor C of major [2] completes at or above 2000.   The alternate (blue) count remains valid for major [2] below the PB high of 2116.

SP-500 15-min chart (mid-day):

PUG SP-500 15-min MD 2-23-16

SP-500 60-min chart (mid-day):

PUG SP-500 60-min MD 2-23-16

SP-500 4-hr chart (mid-day):

PUG SP-500 4-hr MD 2-23-16

SP-500 daily chart (mid-day):

PUG SP-500 daily MD 2-23-16

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