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February 22nd, 2018: SP-500 Chart Update

Posted by pugsma on February 22, 2018

4:45 pm EST:   The primary (green) wave count looks like a wave minor 2 correction (bull flag) for major [5]-P5-C1.  Note that the primary wave count minor 2 wave can remain valid as long as it remains above the 2533 low.   SP-500 price needs to break above 2754 to confirm the primary wave count is in a minor 3 of major [5] wave higher.   Alternate (blue) wave count remains unchanged and is looking for minor C of major [4]-P5-C1 wave drop to the major [5]=[1] target at 2415.  A break below 2533 would confirm the alternate blue wave count.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=4dd55d6c-75fb-4801-9202-0d130b6e52ab

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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