March 3rd, 2014: SP-500 Mid-day/EOD Update
Posted by pugsma on March 3, 2014
5:15 pm EST: EOD updated charts.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
1:35 pm EST: For the primary count it looks like minor 2 of major [5]-P3-C1 may have just played out as an expanded flat, where (a)=1859 to 1840, (b)=1840 to 1868 and now (c)=1868 to 1834. There are two typical targets for the end of an expanded flat, (c)=1.62*(a) at 1837 and (c)=2.62*(a)=1818. So far the SP-500 has corrected to 1834 which is just below the first target. The (c) wave down for minor 2 should be 5 waves (i-ii-iii-iv-v), thus on a break above wave i-(c) at 1847.67, the (c) wave of minor 2 should be complete signaling the beginning of minor 3 of major [5]-P3-C1 headed above 1900.
The alternate (blue) count for the for the ED is still in alive as long this wave (4) of minor 1 of major [A]-P4-C1 does not move above 1847.67. Assuming 1847.67 is not breached during wave (4), the minor 1 target is the 1814 pivot area.
SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=c65660f5-50b6-4dba-a8a0-36b647bb1342
SP-500 15-min chart (mid-day):
SP-500 60-min chart (mid-day):
SP-500 4-hr chart (mid-day):
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