April 11th, 2014: SP-500 EOD Update
Posted by pugsma on April 11, 2014
4:55 pm EST: The SP-500 is an inflection point. Holding the 1814 pivot area (1807 to 1821) is important for the primary wave count. A move to the 1775 pivot or below will likely mean that the alternate (blue) count is more likely.
Primary count is minor 2 of major [5]-P3-C1 bottomed at 1814 today or will reach the 50% retrace of 1811 early next week. Minor 3 should soon be underway headed above 2000 to 2047, where minor 3 = 1.62*minor 1. The major [5]=[1] target is at 2085 for completion of P3-C1. The primary count remains valid above the major [4]-P3-C1 low of 1738.
The alternate (blue) count is that P3-C1 topped at 1897 and P4 down has begun. The first major [A]-P4 wave is unfolding as 5 minor waves headed for target near the 1775 pivot. Ultimately P4 should reach a the 23%/38% retrace target area of 1707/1584. The alternate (blue) count remains valid below the 1897 high.
As always, you can use the 15-min chart for wave count sub-minete and minute degree details.
Have a great weekend !
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
SP-500 daily chart (EOD):
SP-500 weekly chart (EOD):
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