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May 23rd, 2017: SP-500 Chart Update

Posted by pugsma on May 23, 2017

3:00 pm EST:   SP-500 price has hit my 2401 target for completion of both the primary count wave (1) of minor 3 of major [5]-P5-C1 and the alternate (blue) count wave minor D of major [4]-P5-C1.   For bot wave counts, the SP-500 price should see a mild pull-back to hold the 2366 pivot.  Target area is the 50% Fib retrace at 2377.

The alternate (red) count is very close to becoming in valid at the 2406 level.   The 88% Fib retrace for wave (2) of minor C of major [4]-P5-C1 was hit at 2400.

SP-500 15-min chart:

SP-500 60-min chart:

SP-500 4-hr chart:

 

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