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February 28th, 2017: SP-500 Chart Update

Posted by pugsma on February 28, 2017

3:05 pm EST:  The primary (green) count is that wave major [3]-P5-C1 is complete near the [3]= 1.23*[1] target of 2375.   A break below the 2353 and 2339 levels should confirm the major [3] top.  There is potential MACD -DIV on the 4-hr and daily charts that should usher in the major [4] correction down to the 2278 pivot support, where the 23% Fib retrace is at 2287.

The alternate (blue) count is that wave major [3]-P5-C1 is still climbing toward the major [3]=1.38[1] target of 2421.  When major 5 of major [3], wave minute (3) is headed for the (3)=2.62(1) target of 2393.

SP-500 15-min chart:


SP-500 60-min chart:


SP-500 4-hr chart:


SP-500 daily chart:



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