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January 17th, 2018: SP-500 Chart Update

Posted by pugsma on January 17, 2018

11:30 am EST:   The primary (green) count is that major [3]-P5-C1 topped at 2807, precisely at the major [3]=2.62[1] target.   The major [4] wave lower is underway with a first target area at the 23% Fibonacci retrace of 2620.  Major [4] should unfold as 3 minor waves A-B-C.   For minor A (5 minute waves lower), the minute (1) wave ended at 2769 and the minute (2) is now underway to the 62%/78% Fib retrace of 2792/2798.    From the minute (2) bounce, the minute (3) wave should drop below 2769 toward the minute (3)=1.62(1) target of 2730.  Ultimately the minor A wave should reach the 2695 pivot area.

Should the 2807 high be exceeded, the alternate (blue) wave count is that minute (5) of minor 5 of major [3]-P5-C1 is headed for the (5)=(1) target of 2827.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=74e5092a-8dd1-4853-8c4b-d492b08ff7e8

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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