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December 15th, 2016: SP-500 Chart Update

Posted by pugsma on December 15, 2016

6:40 pm EST:  Primary (green) count wave ii-(3) of minor 3 of major [3]-P5-C1 underway with a 50%/62% retrace target of 2233/2222.   Once wave ii-(3) completes, wave iii-(3) of will head above 2272 toward the minute (3)-(1) target at 2318. The minor 3 target is 2332, at the 1.23 Fibonacci extension of the minor 1 wave.  The major [3] target is at 2375, at the 1.23 Fib extension of the major [1].  Finally the P5=P5 target is 2513 to complete the Cycle 1 (C1) wave of Super Cycle V (SC-V).

Alternate (blue) count P5-C1 ending diagonal has topped at 2278 just below the 2286 maximum.  SPX price must break 2188 and 2084 in order to confirm the Cycle 2 (C2) wave down towards 1500-1600 is underway.

SP-500 15-min chart:


SP-500 60-min chart:


SP-500 4-hr chart:


SP-500 daily chart:


SP-500 Weekly:


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