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Sept 17th, 2013: SP-500 Long Term Count Update

Posted by pugsma on September 17, 2013

3:00 pm EST:   From time to time it’s important to step back to and look at the forest and ignore the trees.  Today after examining the SPX monthly and weekly charts, it is clear that the long-term primary count needs to be adjusted back to where I had things labeled back in the June-August time frame.  That is to say that P3-C1 either topped at 1709 in early August or is now extending a little higher to 1724-1779.   In either case a significant P4 correction is near that could return the SPX to the lower white channel line of the Cycle 1 (C1) bull market that began March 2009.  After this coming P4 correction down toward the 1524 pivot, there should sill be one Primary 5 (P5) wave higher toward 1900.

SP-500 Daily Chart (EOD):

PUG SP-500 daily chart EOD 9-17-13

SP-500 Weekly Chart (EOD):

PUG SP-500 weekly chart EOD 9-17-13

SP-500 Monthly Chart (EOD):

PUG SP-500 monthly chart EOD 9-17-13

This entry was posted on September 17, 2013 at 2:58 pm and is filed under SP-500. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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