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April 3rd, 2014: SP-500 EOD Update

Posted by pugsma on April 3, 2014

6:00 pm EST:   The SP-500 made a fractional point new all-time high today at 1893.80 and the DJIA made a new all-time high at 16,604.  This new DJIA high completes everything that is required for P3-C1 top.  However a break of 1842 on the SP-500 is require to confirm that the P3-C1 top is in place; so until that happens the trend is higher per the primary and alternate (blue) wave counts..

For the primary wave count it looks like wave (1) of minor 5 of major [5]-P3-C1 topped at 1894 and wave (2) may have completed this afternoon at the 23% retrace of 1882.  Should wave (2) need to retrace deeper there are targets at 38% (1874) and 50% (1868).  Once wave (2) completes, wave (3) should head for a target near 1935-1940.  I’m expecting P3-C1 complete in the 1941 to 1953 area later in April.

The alternate (blue) count is just getting started in its minor 3 of major [5]-P3-C1 wave and will continue to march higher well above 2000 over the next few months.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 4-3-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 4-3-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 4-3-14

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