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January 9th, 2017: SP-500 Chart Update

Posted by pugsma on January 9, 2017

3:30 pm EST:  The looks like minor 3 of major [3] is likely winding down.  The M3=M1 target is 2286, so maybe just more push above 2282 is left.

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 2299 to 2314, where (5)=0.50(1) to 0.62(1).  Note the maximum for wave (5) is 2324, so that wave (3) is  not the shortest wave. Wave i-(5) hit 2264 and wave ii-(5) retraced 62% to 2245.   Wave iii-(5) completed at 2282, where iii=1.23*i target.  Wave iv-(5) has retraced 38% to 2267.  The wave v=i=2297 to complete (5).   The primary (green) count as labeled remains valid above the wave (1) high 2214.

SP-500 15-min chart:


SP-500 60-min chart:


SP-500 4-hr chart:


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