February 25th, 2016: SP-500 EOD Update
Posted by pugsma on February 25, 2016
1:10 pm EST: The primary (red) 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] targets are the 62%/78% Fibonacci retrace at 2000/2049. This major [2] wave will need to flip the weekly AAII Sentiment to more bullish than bearish before the major [3] wave down can begin. The minor A of major [2] wave completed at 1947. The minor B wave likely completed at 1891, which was near the 38% retrace of 1895. The minor C of major [2] wave is underway and should target 2028, where C=A. There is however a double bottom (1810) maximum target at 2084 on break above 1947. Once the major [2] wave completes, the strongest wave major [3] of PC will be underway headed below 1810 towards the 1600 level. Ultimately PC-C2 should target the 1500-1600 area some time in late summer to early fall 2016, as shown on the weekly and monthly charts below. The primary (red) count remains valid for major [2] below the PB-C2 high of 2116.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
SP-500 weekly chart:
SP-500 monthly chart:
Sorry, the comment form is closed at this time.
You must be logged in to post a comment.