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February 24th, 2017: SP-500 Chart Update

Posted by pugsma on February 24, 2017

3:45 pm EST:   The primary count looks to have topped major [3]-P5-C1 at 2368 or has one more small push up to the 2375 target, where [3]=1.23[1].  A break below 2339 would confirm the major [3] top.   Once major [3] complete there should be multi-week to several month consolidation wave major [4] around the 2278 pivot support.  Note: the 4-hr and daily charts are starting to show a potential MACD -DIV at the wave major [3] wave top.

The alternate (blue) count is that wave iv-(3) of minor 5 of major [3]-P5-C1 completed today at 2353.   Wave v-(3) should reach the (3)=2.62(1) target of 2393.  Wave minute (4) should pull-back to the 23% retrace of 2364 and then wave minute (5) of minor 5 should push up to the major [3]=1.38[1] target is at 2421.

Have a great weekend !

SP-500 15-min chart:


SP-500 60-mi chart:


SP-500 4-hr chart:


SP-500 daily chart:


SP-500 weekly chart:


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