November 11th, 2016: SP-500 Chart Update
Posted by pugsma on November 11, 2016
12:05 pm EST: The primary (white/green) count wave count is that wave (3) of minor 3 of major [3]-P5-C1 is underway with initial target at (3)=2.62*(1) = 2290. The minor 3 target is at 2332, where minor 3 = 1.23*minor 1, the major [3] = 1.23*[1] target is at 2375 and the P5=P1 target 2513 to complete the Cycle 1 wave. A very bullish IT-LT outcome indeed. The SP-500 price must now hold above 2125 and 2085 and move above 2194 for full confirmation.
Alternatively (blue count) is that wave (1) of minor 3 of major [3]-P5-C1 ended today at 2182 and now a 50%/62% correction to 2133/2121 for wave (2) is underway. From there wave (3)=1.62*(1) = 2192. The minor 3 target is at 2332, where minor 3 = 1.23*minor 1, the major [3] = 1.23*[1] target is at 2375 and the P5=P1 target 2513 to complete the Cycle 1 wave.
Have an Awesome Weekend !!!
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
SP-500 weekly chart:
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