February 15th, 2017: SP-500 Chart Update
Posted by pugsma on February 15, 2017
2:55 pm EST: With the break above 2347 the old alternate (blue) count becomes the new primary count. The new primary count is divided into two potential paths discussed below.
The primary count is that minor 5 of major [3]-P5-C1 is headed for the [3]=1.23[1] target of 2375. Within minor 5, minute (3) looks to be completing here at 2354, where v=i. There should be minute (4) retrace to the 23%/38% Fib of 2234/2321, before minute (5) completes minor 5 at 2359 to 2375.
The alternate (blue) count is that minor 5 of major [5]-P5-C1 is headed for the [3]=1.38[1] target of 2421. Looking at the 60-min chart, within the minor 5, we have minute (1) at 2282, and minute (2) at 2267. Wave minute (3) is underway and should target 2393, where (3)=2.62(1). Within minute (3), wave i hit 2299, wave ii ended at 2285 and now wave iii is underway with target at 2369, where iii=2.62*i.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
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