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January 20th, 2017: SP-500 Chart Update

Posted by pugsma on January 20, 2017

3:40 pm EST:    No change in the counts with today’s price action.  Either minor 3 of major [3]-P5 needs one more push up to 2313 (primary) or is complete at 2282 (alternate).  We should see resolution early next week.

SP-500 Short-Term (ST) price is at tipping point here between 2254 and 2282.  If 2254 holds, then 50 to 60 point move up to 2313 should be next (primary).  With a drop below 2254, then expect a 20 drop to at least 2234 and maybe at total of 57 points lower to 2207 (alternate).

Have a wonderful 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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