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January 8th, 2018: SP-500 Chart Update

Posted by pugsma on January 8, 2018

12:25 pm EST:   I have a couple wave count options on how this major [3]-P5-C1 wave will end.   The primary (green) count is precisely has I showed last Friday, January 5th.   Wave minute (3) of minor 5 of major [3] is ending here near 2751 to 2761.   Then there should be a minute (4) retrace to the 23% Fib at 2698 before one final minute (5) wave push up to the (5)=(1) target at 2789.  Also the major [3]=2.62[1] is at 2807.

The alternate (blue) count view for the major [3]-P5-C1 top is that price is already in the minute (5) of minor 5 wave off the minor (4) low at 2674 at the end of the year.   The minute (5)=(1) target is at 2765.   There is also a minor 5=1.62*minor 1 target at 2744 that has already be satisfied.  The alternate (blue) count obviously is more near term bearish.  A break below the year end low of 2674 should confirm this alternate (blue) wave count.

For both the primary and alternate wave counts, there will be a significant major [4] wave drop in the April-June time frame.   The 23%/38% Fibs that the SP-500 price back down towards at least the 2597 pivot.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=6eb8ec0b-34ad-4c55-9084-aebad5bdaa63

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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