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May 1st, 2017: SP-500 Chart Update

Posted by pugsma on May 1, 2017

1:30 pm EST:   The SP-500 price is struggling to move above the 2401 pivot.  So far the SPX price action is not indicative a minor 3 wave up to SPX 2468 as per the primary wave count.  This could mean that minor 2 is still unfolding and price will need to break below 2382 to the 38%/50% Fib at 2378/2372 before minor 3 kicks-off.   However it also means that major [4]-P5-Flat (alt red count) back down to test the 2322 low is still possible here.

SP-500 15-min chart:

SP-500 60-min chart:

SP-500 4-hr chart:

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