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February 13th, 2019: SP-500 Chart Update

Posted by pugsma on February 13, 2019

6:20 pm EST:    Just as predicted, wave minute (3) of minor 5 of major [1]-P5-C1 hit the (3)=1.62(1) target at 2761.   After hitting 2762 today, the SP-500 price hit the 23% Fib retrace to 2748 for minute (4).   There should be at least one more burst higher for minute (5) to the (5)=(1) target of 2783.  Also, minor M5=0.62*M1 at 2790.

SP-500 15-min chart real-time link:

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

6 Responses to “February 13th, 2019: SP-500 Chart Update”

  1. rat8nine said

    spy 15 as of now… median line terms there is a perfect short setup, where price hit .886 retest at the upper line late Wednesday. However, I have seen many times that the perfect median line setup gets busted and it’s always because the wave count is in opposition, with the short trigger at the high of a wave 3. So price has hit the .382 here on the nose, on opex Thursday, with the China trade deal push out in the background, the deal to avert another government shutdown potentially waiting to be signed, and the historical data point that opex weeks often push price into extremes in the direction of the trend. So the purple median line will very likely not get hit, but we shall see. Keep in mind that the setups precede the news, not the other way around.

  2. Good morning all. Happy Valentines day … Steve, could this still be a wave 4 ? About a 50% retracement.. Was a surprise, but could fool a lot.

  3. rat8nine said

    Steve, does anything over 2761.88 qualify as wave 5?

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