February 9th, 2017: SP-500 Chart Update
Posted by pugsma on February 9, 2017
12:05 pm EST: As I have said here for years on the blog, when you are in major [3] bull wave surprises are to the upside. We may be observing that now, as wave minor 4 of major [3] looks to be in the books at 2234 and the minor 5 wave toward the major [3]-P5 target at 2424 is underway. A break above 2311 would confirm this, eliminating the primary count and confirming the more bullish alternate (blue) count.
The work I’ve been doing on the XLE (Energy) and IWM (small cap stocks) in the Add-On Service has alluded to this new more bullish SP-500 alternate (blue) count.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
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