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May 24th, 2017: SP-500 Chart Update

Posted by pugsma on May 24, 2017

3:10 pm EST:  The primary (green/white) count is that minor 3 of major [5]-P5-C1 is underway toward a target at 2471, where minor 3 = 2.0*minor 1.   There should continue to be only small pull-backs as the minor 3 wave extends upward.   The ultimate target for major [5]-P5 is at 2513, where P5=P1.

The alternate (blue) count is that major [4]-P5-C1 ascending triangle is finishing up the minor D wave here at the 2401 pivot and minor E back to the 2366 pivot area is next.  Once the major [4] ascending triangle completes, the major [5] wave should head for the triangle target of 2480.

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

SP-500 daily chart:

SP500 Technical Analysis

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