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May 9th, 2017: SP-500 Chart Update

Posted by pugsma on May 9, 2017

2:15 pm EST:   We may be looking at a small pull-back for both primary and alternate (blue) counts.  The primary count would be a wave (2) of minor 3 of major [5]-P5-C1 that should hold the 2379 wave minor 2 low with the 50%/62% Fib at 2392/2388.  The alternate (blue) would be a minor 2 of major [5]-P5-C1 wave that should hold the 2366 pivot (38%/50% Fib at 2375/2366).  A break below the 2366 pivot could open the down for the alternate (red) count major [4]-P5-C1 low back down at 2306.

SP-500 15-min chart:

SP-500 60-min chart:

SP-500 4-hr chart:

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