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January 6th, 2017: SP-500 Chart Update

Posted by pugsma on January 6, 2017

1:40 pm EST:   Today the DJIA hit 19,999.63 (20K) thus far and the SP-500 price broke above the early December high of 2278, all-but completely eliminating the alternate (blue) wave count for the P5-C1 ending diagonal which has a 2286 maximum.

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 has made a new high above 2278.  The wave (5) target is at the area of 2309 to 2324, where (5)=0.50(1) to 0.62(1).   Wave i-(5) hit 2264 and wave ii-(5) retraced 62% to 2245.   Wave iii-(5) is underway and headed for the 1.62*i target at 2294.   The primary (green) count as labeled remains valid above the wave (1) high 2214.

Have a super weekend !!!

SP-500 15-min chart:


SP-500 60-min chart:


SP-500 4-hr chart:


SP-500 daily chart:


SP-500 weekly chart:


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