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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):

PUG SP-500 15-min chart MD 6-4-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart MD 6-4-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart MD 6-4-14

SP-500 daily chart (EOD):

PUG SP-500 daily chart MD 6-4-14

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