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May 30th, 2017: SP-500 Chart Update

Posted by pugsma on May 30, 2017

11:50 am EST:   The 2419 target for the alternate (blue) count was it on Friday, May 26th.

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 is playing out as a 3-3-5 expanded flat with the minor B wave nearing the typical B=1.23*A target of 2419.  Once the 3-wave minor B wave ends, there should be a 5-wave minor C more down to the typical C=1.62*A target of 2291.  The 23%/38% retrace target for major [4] is at 2306/2248.

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

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