February 26th, 2018: SP-500 Chart Update
Posted by pugsma on February 26, 2018
4:30 pm EST: The primary (green) wave count is right on schedule in wave minor (3) of major [5]-P5-C1. The target area is minor 3 =0.78*minor 1 at 2870. The major [5]=[1] target is 2917.
The alternate (blue) count, which is far less likely now on the break above 2754, has been adjusted looking for a 78% Fibonacci retrace target of 2798 for minor B of major [4]-P5-C1. Once minor B is complete, there would be a new low below 2533 for minor C of major [4]-P5-C1. The target would be C=A at 2459. Then there would still be one more bull market high above 2872 for major [5]-P5-C1. This alternate (blue) count is obviously a much slower P5-C1 topping pattern than the primary (green) count, last into year 2019 versus ending this summer of 2018.
SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=bb1893ee-84e2-4512-bc80-b7f3d0ec05dc
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
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