3/19/2017: sp500 update

The new sp500 update is following:

• wave 5-4 correction seems finished wave A at 2354.54 and wave B at 2390.01
• wave C is under way the latest estimation is around 2340~2346 to meet the uptrend trend line 
• if using equal length AB=CD move, 2390.01 - (2400.98-2354.54) =  2343.57
• if using CD =1.238 AB move, 2390.01 - 1.238*(2400.98-2354.54) = 2332.4
• if using CD = 1.5 AB move, 2390.01- 1.5*(2400.98-2343.54) = 2320.35

http://schrts.co/HSIIkj

In summary, if next week sp500 break out 2390.01 before touching 2350 area, it means the wave B of wave 5-4 not done yet. Wave C target really depends on the fibs of AB, CD move, so there is no fixed projection. This is a only price projection for reference, not a strict route of sp500. Watch for following possible targets:

• 2343
• 2332
• 2320

Some breadth information of sp500 is following:

• SPXA50R a little bit cross over 20 days  MA, 50 days MA, however back dowm from all short term MAs, it indicates a weakness of sp500 in short term
• SPXA50R's all short term MAs run a little bit flat (not totally pointing down), the downward movement of sp500 is not going to be big

http://schrts.co/N9bjeJ

• SPXA150R still runs very healthy that it indicates sp500 still in a good range , no short term break down is expected

http://schrts.co/49GTwE

In summary, the breadth SPXA50R showed weakness or little bearish, the breadth SPXA150R showed still the range market (no break down). The pull back is expected shallow still. Although the 2400 double still possible, the pull back is inevitable in my personal opinion. 

My personal opinion is not for investment purpose, but for education and illustration.