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March 20th, 2017: SP-500 Chart Update

Posted by pugsma on March 20, 2017

3:00 pm EST:   The SP-500 is trapped in the dull-drums between 2353 and 2401.  There can be no resolution in the short-term wave counts until this range breaks.

However it’s important to keep in mind that in the intermediate-term picture that the major [3]-P5-C1 top is either in place at 2401 or very near at 2421.  There should be a significant correction in both price and time for major [4]-P5-C1 that could last several months and correct 125 to 175 SPX points (-5 to -7%).

SP-500 15-min chart:

SP-500 60-min chart:

SP-500 4-hr chart:

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