January 3rd, 2017: SP-500 Chart Update
Posted by pugsma on January 3, 2017
11:05 am EST: Welcome to the new year of 2017 Premium Service. The Premium Service will be 100% focused on daily SP-500 price movement charting. If you want to view my thoughts on various stocks, commodities and bonds, then you will need to subscribe to the new Add-On Service: https://pugsma.com/add-on-service/
Primary (green) count is that wave (4) of minor 3 of major [3]-P5-C1 is played out as a Zig-Zag with c=1.38a target at 2234. Wave (5) of minor 3 is underway and should make a new high above 2278 at a target area of 2309 to 2324, where (5)=0.50(1) to 0.62(1). Wave i-(5) hit 2264 early this morning and now wave ii-(5) should retrace 50%/62% to 2249/2245. Once wave ii-(5) complete, wave iii-(5) should head for the 1.62*i target at 2298. The primary (green) count as labeled remains valid above the wave (1) high of 2214.
The alternate (blue) count for the P5-C1 ending diagonal completed at 2278. The SPX must begin to impulse lower taking out 2214, 2188 and finally 2084 in order to confirm. The maximum of the alternate (blue) P5-C1 ED count is 2286, where it could become invalid.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
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