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February 16th, 2017: SP-500 Chart Update

Posted by pugsma on February 16, 2017

2:55 pm EST:  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 complete here at 2351, where v=i.   Wave minute (4) is underway that should 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 [3]-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:


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