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June 18th, 2014: SP-500 Mid-day Update

Posted by pugsma on June 18, 2014

12:00 pm EST:  The primary count is that minor 1 of major [A]-P4-C1 completed at 1926.  The move up from 1926 to 1945 thus far is a 62% retrace for wave minor 2, which is a typical wave 2 retracement.  Should wave minor 2 decide to move higher, there are potential higher targets at the 78%/88% retrace of 1948/1852.   As long as minor 2 remains below 1955.55 the primary count remains valid.   Once minor 2 complete wave minor 3 and minor 5 of major [A] should head for the 1849 pivot.

The alternate (blue) count is that wave minute (4) of minor 3 of major [5]-P3-C1 completed at 1826.  Wave minute (5) is underway head edfor a (5)=(1) target of 2003 to complete minor 3.  There is also a minor 3 = 1.23*minor 1 fib extension target at 1994.  Once minor 3 completes, minor 4 should retrace 23% back down to the 1956 pivot before minor 5 of major [5]-P3-C1 completes near the major [5] = [1] target 2085.  The alternate (blue) as labeled remains valid above 1926 or if wave (4) of minor 3 did not complete at 1826, then above the wave (1) of minor 3 high of 1891.

SP-500 15-min chart (mid-day):

PUG SP-500 15-min chart MD 6-18-14

SP-500 60-min chart (mid-day):

PUG SP-500 60-min chart MD 6-18-14

SP-500 4-hr chart (mid-day):

PUG SP-500 4-hr chart MD 6-18-14

SP-500 daily chart (mid-day):

PUG SP-500 daily chart MD 6-18-14

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