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March 12th, 2019: SP-500 Chart Update

Posted by pugsma on March 12, 2019

5:00 pm EST:   The highest probability (88%) primary (white/green) wave count is another down wave of minor C to complete major [2]-P5-C1 with targets are the 23%/38% Fibonacci retracement at 2708/2638.  There are wave targets of minor C=A at 2703 and C=1.62*A at 2644.

A lower probability (12%) alternate (blue) wave count is that the major [2] low is in place at 2722 and that major [3] up to a new all-time high above 2941 is underway.

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

SP-500 daily chart:

SP500 Technical Analysis


8 Responses to “March 12th, 2019: SP-500 Chart Update”

  1. rat8nine said

    spx 60 and 15 – on the 60 minute, the green lines are at the two areas Steve is showing, where C=A, and C=1.62*A

  2. Is the primary count intact as long as 2817 isn’t breached ? Is the alternate count valid as long aw 2722 holds ?

    Rat8nine…..thanks for the ongoing charting contribution.

  3. rat8nine said

    qqq 15 – one thing was troubling me yesterday, which was the lack of a median line target hit for qqq….

  4. Quite interesting move from 2722.

    – Monday’s steep vertical run up looked quite Impulsive.
    – Tuesday’s Ascending Wedge turns that around, pointing to a Bearish move down, supported by some pretty astute in depth analysis. The turn down at the end of the day seems to confirm this too.
    – Then today all that seems to turn around again, we head up and are now (as of 10:35 PDT), hitting 2817 resistance for the third time.

    And we are at another nexus point … ‘So where to now St Peter’ …?

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