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February 24th, 2020: SP-500 Chart Update

Posted by pugsma on February 24, 2020

2:45 pm EST:   The SP-500 gapped down to the 3258 pivot and hit a 3215 low.

For the primary (green) wave count this drop to the 3215 area would be all of major [4] just below the 23% Fib target of 3241.   Note: minor C=2.62*minor A at 3236.    Assuming the major [4] low is in place at 3215, the major [5]=0.62[1] target is at 3591.

For the alternate (blue) wave count this drop to the 3215 area would only be the minor A of major [4] wave.  There would be a 50%/62% Fib move back up to the 3306/3325 area for minor B before minor C drops the 38% Fib target for major [4] at 3141.

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

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