June 11th, 2014: SP-500 EOD Update
Posted by pugsma on June 11, 2014
6:25 pm EST: Primary count is that major [5]-P3-C1 has topped at 1956 or if not, will not move past the Ending Diagonal maximum of 1973. P4-C1 should get underway soon headed to the 23% fib retracement of P3-C1 at 1754 basis a P3-C1 completion at 1956. However it will take to break below 1862 to confirm the P3-C1 top and a break of the 1884 pivot would be an early warning sign.
Alternate (blue) count is that wave (3) of minor 3 of major [5]-P3-C1 is underway headed for 1987, where (3)=1.62*(1). Within wave (3) it looks like wave iii-(3) topped at 1956 and this pull-back is wave iv-(3), which should target the 23%/38% fib retrace of 1936/1922 (may have completed at 1940 today)before wave v-(3) reach the 1987 completion target. After wave (3) completes there should be a wave (4) of minor 3 pull-back to the 23%/38% fib retrace of 1958/1940 before wave (5) of minor 3 moves to the target of 2050, where minor 3=1.62*minor 1. Ultimately major [5]-P3-C1 should reach 2085, where [5]=[1].
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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