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June 13th, 2014: SP-500 EOD Update

Posted by pugsma on June 13, 2014

5:20 pm EST:  The SP-500 primary count Ending Diagonal (ED) completion of  major [5]-P3-C1 at 1956 is still intact below the ED maximum of 1973.  The primary count is that wave minor 1 of major [A]-P4-C1 is underway headed for the 1915/1920 area.  As long as the price stays below 1945 during this wave (4) of minor 1, it looks like there should be more wave (5) of minor 1 down to 1920/1915.  There should then be a wave minor 2 bounce to the 50%/62% fib retrace of 1936/1941 before wave minor 3 heads for 1870, where minor 3=1.62*minor 1.  The target for the completion of major [A]-P4-C1 is at the 1849 pivot.  Ultimately, P4-C1 should reach at least the 23% fib retrace of P3-C1 (basis 1956) at 1754.  The primary count remains valid as labeled below 1956 or would still remain valid below 1973 if price were to break above 1956.

The alternate (blue) count that wave (4) of minor 3 of major [5]-P3-C1 looks to be complete 1926.  However it is still possible that wave (4) might want to target the 38% fib retrace of 1920 and the wave iv-(3) of lesser degree at 1919.  Basis a wave (4) of minor 3 completion at 1926, the wave (5) of minor 3 target is up at 2003, where (5)=(1).  Ultimately major [5]-P3-C1 could target the major [5]=[1] area of 2085.  The alternate (blue) count remains valid as labeled above 1926 or if wave (4) where to decide to move lower, then it remains valid above the wave (1) of minor 3 high at 1891.

Have a great weekend !

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 6-13-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 6-13-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 6-13-14

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 6-13-14

SP-500 weekly chart (EOD):

PUG SP-500 weekly chart EOD 6-13-14

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