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):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
Sorry, the comment form is closed at this time.
You must be logged in to post a comment.