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January 17th, 2020: SP-500 Chart Update

Posted by pugsma on January 17, 2020

3:50 pm EST:  The SP-500 price creeped higher today to 3326.

The cluster of wave count targets between 3327 and 3340 are near, as are the upper trend lines on the 60-min and 4-hr charts.

Primary (green):  Major [3]=[1] target of 3336.

Alternate (blue):  Minor 3 =1.62*minor 1 target of 3340.

Alternate (red):   Triangle target upper value of 3327 for major [5]-P5-C1.

House Keeping:  USA Markets are closed for the MLK Holiday on Monday, January 20th.  Have a great weekend!

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

SP-500 weekly chart:

SP500 Technical Analysis


4 Responses to “January 17th, 2020: SP-500 Chart Update”

  1. MS53 said

    Rat8nine opex charts on yesterday’s post show that strong trends don’t generally end until a few days after opex. Seem to recall that Denali often mentioned that.

    • rat8nine said

      I seem to remember him talking about turns coming from oe Thursday through maybe the following Tuesday/ Wednesday? My observation is that often prices push into extremes into oe Thursday close or Friday close for sure. I would love to see research that tries to quantify a relationship between when the turns come relative to oe, and where price is in terms of the wave count.

  2. PUG, is there any chance you would look at Corn and Weat again. Plus UNG sure looks like it has botomed.

  3. pugsma said

    Love this topping indicator..

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