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April 10th, 2017: SP-500 Chart Update

Posted by pugsma on April 10, 2017

12:15 pm EST:  The SP-500 price is still trapped between 2322 and 2401.  Breaking this range is key to the next intermediate term price move.

The primary count has a possibility that minor 2 of major [5]-P5-C1 ended at 2250 or might need one more re-test lower to the 62%/78% Fib retrace at 2343/2334.  Ultimately the primary count should hold the 2322 low and make a new high above 2401 toward the P5=P5 target of 2513.

The alternate (blue) count is that major [4]-P5-C1 is not yet complete at 2322. The 2322 low is only minor A of major [4] and the move up to 2378 was minor B.  Now minor C should head towards a target a 2250, where C=1.62*A, which is inline with 38% Fib retrace for major [4] at 2246.

SP-500 15-min chart:

SP-500 60-min chart:

SP-500 4-hr chart:

SP-500 daily chart:

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