February 27th, 2019: SP-500 Chart Update
Posted by pugsma on February 27, 2019
5:30 pm EST: The primary (white/green) wave count is that major [1]-P5-C1 ended at 2813 and the major [2] wave is underway to a 23%/38% Fibonacci retrace at 2705/2636. Minor W of major [2] looks to have completed today at 2775. Once minor X completes below 2813, there should be at least one more minor Y wave down to the 2695 pivot. Breaking below the 2759 pivot will confirm this primary (green) wave count.
The alternate (blue) wave count is that major [3]-P5-C1 has been underway since the major [2] low at 2444. Minor 1 of major [3] ended at 2675, minor 2 at 2613. The minor 3 wave has been underway with a target to at least the minor 3 = 1.38*minor 1 at 2932. Within minor 3 wave minute (1) completed at 2739 and minute (2) at 2682. The minute (3) =1.62*(1) target is at 2886.
In the end both wave counts are headed for P5=P1 target at 3051 to complete Cycle 1 (C1). It is now simply a matter of the wave path to this target. The primary (green) count see a significant pull-back for major [2] next and the alternate (blue) count sees the major [3] wave continuing to march relentlessly higher.
SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=97a21107-dd3b-4424-b1a5-04ca842ced68
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
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