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May 29th, 2014: SP-500 EOD Update

Posted by pugsma on May 29, 2014

4:15 pm EST:   The SP-500 set a new new ATH of 1920 at the close today.  The long-standing P3=1.23*P1 = 1941 target is very near.

The primary count is that wave iii-(c) of minor 5 of major [5]-P3-C1 is complete at 1912.  The wave iv-(c) correction completed at 1907  yesterday and the final wave v-(c) is underway.  The targets for v-(c) range from v=0.62*i=1922 to v=i=1931 to v=1.62*iv = 1945.   There is also a (c)=(a)=1939 target and (c)=1.23*(a)=1957 target.  The major [5]-P3-C1 ending diagonal maximum is at 1973.  The primary count should end P3-C1 in the next few days to week and the P4-C1 wave headed back down to the test the Feb 2014 low of 1738 will be underway.  However, it will take a break below 1862 to confirm the P3-C1 top.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 5-29-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 5-29-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 5-29-14

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 5-29-14

SP-500 weekly chart (EOD):

PUG SP-500 weekly chart EOD 5-29-14

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