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February 1st, 2018: SP-500 Chart

Posted by pugsma on February 1, 2018

12:55 pm EST:    The primary (green) wave count is that wave minute (4) of minor 3 of major [3]-P5-C1 completed at 2813 and wave minute (5) of minor 3 is underway headed for an initial target at 2925, where (5)=0.62(1).  A break above 2872 would confirm this primary (green) wave count.

The alternate (blue) count is that major [3]-P5-C1 complete at 2872 and a major [4] wave correction is underway.  I’m looking for sharp minor A-B-C correction for major [4] to alternate with the low winded major [2] wave.   Minor A of major [4] is complete at 2813 and now a minor B wave should retrace 50%/62% to the 2843/2850 area.  The minor C wave down should a be large C=2.62*A wave to a target at 2688, which is also the 23% Fibonacci retrace of major [3].   A break below 2813 would confirm this alternate (blue) wave count.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=d99aae0e-6132-46b3-a3a7-0c41bfca85b6

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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