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April 15th, 2014: SP-500 EOD Update

Posted by pugsma on April 15, 2014

4:20 pm EST:  The very reliable VIX Sell, SPX Buy signal completed the final confirming step (i.e. step 3) with a red VIX close today. http://stockcharts.com/h-sc/ui?s=$NYAD&p=D&b=7&g=0&id=p23917655901&a=269536931&r=1377203427577&cmd=print

Primary count is minor 2 of major [5]-P3-C1 bottomed at 1814.  The minor 3 wave up is underway headed above 2000 to 2047, where minor 3 = 1.62*minor 1.  The first minute wave (1) of minor 3 should reach the 1900 area.  The move up from 1814 to 1834 today looks like wave i-(1) and the drop to 1816 wave ii-(1).   Next up should be a wave iii-(1) towards a target at 1868, where iii=2.62*i.   Ultimately the major [5]=[1] target is at 2085 for completion of P3-C1.  If minor 2 did not complete at 1814, then the primary count remains valid for minor 2 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.  Wave minor 3 down is currently underway with wave (1) of minor 3 complete at 1814 and wave (2) of minor 3 targeting the 50%/62% retrace area of 1843/1850. Once wave (2) completes, wave (3) of minor 3 should drop toward a 1779 target, where (3)=1.23*(1).   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.

SP-500 15-min chart (EOD):

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

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 4-15-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 4-15-14

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 4-15-14

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