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January 7th, 2018: SP-500 Chart Update

Posted by pugsma on January 7, 2019

7:45 pm EST:   For the primary (red) wave count, it looks like wave minor 3 of major [A]-PX-C2 may have ended today at 2566.  A small minor 4 retrace to the 23% Fib at 2537 should be next, before one more push up for the minor 5 wave towards the 2597 pivot to complete major [A].   For the primary (red) count there is still a major [B] wave down and then another major [C] wave up.  The implications here are that the PX wave has a lot longer to play out up the 62%/78% Fib retracement of 2715 to 2810.

For the alternate (blue) wave count major [C]-PX-C2 could complete anywhere from [C]= 0.62, 0.78 or 1.0*major [A], which is 2554, 2580 to 2618.   Note the 38%/50% Fib for PX is at 2573 to 2644.   The implications of this alternate (blue) wave count is that the large PW-C2 wave to new lows below 2347 are likely to happen soon.

SP-500 15-min chart real-time link:   http://www.freestockcharts.com?emailChartID=59505808-7fcb-4c88-98f0-100b683a1cfb

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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