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October 4th, 2017: SP-500 Chart Update

Posted by pugsma on October 4, 2017

2:20 pm EST:   Primary (green) wave count continuing to look for P5-C1 top in this 2513 to 2549 area.   However, remember tops are a process and typically take months to form with lots of chop and sideways price action before any significant drop.

The alternate (blue) wave count has this 2536 to 2549 area as only the end of wave minor 1 of major [5]-P5-C1.  So after a minor 2 correction back to a 50%/62% Fibonacci retrace at 2483/2467, there will be two more pushes higher in waves minor 3 and minor 5 to reach the major [5]=[1] 2687 price target.

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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