March 18th, 2014: SP-500 EOD Update
Posted by pugsma on March 18, 2014
4:15 pm EST: The VIX closed red today producing the step 3 final confirming VIX Sell, SPX Buy signal.
The primary count is that minute (2) of minor 3 of major [5]-P3-C1 bottomed at 1840 as a triple zig-zag corrective at the 88% retrace of 1840. Wave minute (3) of minor 3 is underway and headed towards at target at 1921, where (3)=1.62*(1). Within wave (3) the move up from 1840 to 1862 looks like wave i-(3), the move down to 1853 would be wave ii-(3) and now wave iii-(3) is underway headed for a wave iii-(3) target at 1911, where iii=2.62*i. Ultimately, major [5]-P3-C1 should reach a target in the 1941 to 1953 area. This primary count remains valid above 1840.
The alternate (blue) count is that minor 2 of major [5]-P3-C1 completed the (x) of minor 2 double Zig-Zag corrective at the 78% retrace of 1874 today. Wave (y) of minor 2 should now drop to 1830, where (y)=(w), to complete minor 2. This alternate (blue) count goes invalid on a move above 1884.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
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