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:
Sorry, the comment form is closed at this time.
You must be logged in to post a comment.