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January 30th, 2018: SP-500 Chart Update

Posted by pugsma on January 30, 2018

4:05 pm EST:  Based on the SP-500 Daily RSI (14) hitting an incredible 87 at 2872, we have to assume that this wave up completed the wave minute (3) of minor 3 of major [3]-P5-C1.  That means that this -2% pull-back is likely a wave minute (4) to the 23% Fibonacci retrace target of 2800.  The minute (4) wave looks like an expanded flat wave, where minute (3) ended at 2353.  Once minute (4) completes here at 2800-2818, there should be another push up above 2872, for wave minute (5) of minor 3 towards at least a (5)=0.62(1) target of 2912.  There is also a minor 3=1 target at 2964.    There should then be a minor 4 wave pull-back to the 23% Fibonacci retrace target of 2838/2798.  This would then usher in minor 5 of major [3] push up to 3090, where [3]=2.62[1] = 3090.  From there a major [4] 23% Fibonacci retrace reaches 2859, before the final major [5]-P5-C1 push up to the major [5]=[1] target of 3243.

SP-500 15-min real-time link:  http://www.freestockcharts.com?emailChartID=da304c21-1214-4ff7-908d-8165187f9f15

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

SP-500 weekly chart:

SP500 Technical Analysis

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