June 4th, 2014: SP-500 EOD Update
Posted by pugsma on June 4, 2014
1:15 pm EST: The SP-500 continues to move slowly higher making new all-time highs within the large major [5]-P3-C1 Ending Diagonal (ED) toward the P3=1.23*P1 target of 1941.
The primary count is that wave v-(c) of minor 5 of major [5]-P3-C1 is underway after the wave iv-(c) ascending triangle completed at 1919. The v=i target is 1943 and the (c)=(a) target if 1939.
The alternate (blue) count is that wave iii-(c) of minor 5 of major [5]-P3-C1 is near completion at 1939 to 1943. Once wave iii-(c) complete there will be a wave iv-(c) back down to a 38% retrace of 1912 before wave v-(c) completes at the (c)=1.23*(a) target of 1953.
The ED maximum is at 1973, which is also the major [5]=[1] target. It will take a break of 1862 to confirm that P1-C1 top, although breaking the lower yellow ED trend line would be a warning sign.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
SP-500 daily chart (EOD):
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