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April 13th, 2018: SP-500 Chart Update Pre-Market

Posted by pugsma on April 13, 2018

8:15 pm EST:   Very interesting inflection point here for both wave counts here at 2674, the year 2017 SP-500 closing level.

The primary (green) count remains the major [4]-P5-C1 contracting that is currently in a minor D wave headed for the upper yellow triangle boundary between 2704, where minute (c)=(a) to 2777, where (c)=1.62(a).   The later minor D target of 2777, lines up with a potential IHS with head at 2554, neckline at 2762 and target of 2790.

The alternate (blue) is that major [4] is playing out as a simple zig-zag towards the C=A target of 2463.   Within the minor C wave down, minute wave (1) completed at 2554 and the minute (2) wave looks to be playing out a zig-zag to the typical 50%/62% Fibonacci retrace of 2678/2708.  A break below 2586 and then 2554, will confirm the alternate (blue) count.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=0c788dd5-ba66-410f-9cb3-a707bd6d1b62

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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