February 12th, 2020: SP-500 Chart Update
Posted by pugsma on February 12, 2020
4:15 pm EST: The SP-500 opened gap up to hit a 3381 new all-time high.
The primary (green) wave count has the minor 5 of major [3]-P5-C1 wave up is underway since the 3215 minor 4 low and it has made a new all-time high of 3381 thus far. For minor 5, minute (1) hit 3268, minute (2) dropped to 3244 and minute (3) wave ended at 3348. Minute (4) wave completed at 3318 and the minute (5)=1.62(1) wave target is at 3404. The initial target for the completion of minor 5 of major [3] is at 3400, where minor 5 = 0.62*minor 1. Once the major [3] wave completes between 3381 and 3404, there should be a significant major [4] wave pull-back to the 23%/38% Fib at 3246/3145. Finally major [5]-P5-C1 should reach levels above 3400 to between 3500-3700.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
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