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May 16th, 2017: SP-500 Chart Update

Posted by pugsma on May 16, 2017

1:10 pm EST:   The major [4]-P5 wave may have completed as a contracting triangle as has been shown by the primary (green) count or the major [4]-P5 wave could still be in an ascending triangle as shown by the new alternate (blue) count.  In the case of the later, this move up from 2322 is only minor B of major [4]-P5 with a minor C wave back down to the 2366 pivot to follow.

Note that it will take a definitive break above the 2401 pivot (above 2408) in order to confirm the primary (green) wave count.

SP-500 15-min chart:

SP-500 60-min chart:

SP-500 4-hr chart:

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