June 20th, 2014: SP-500 EOD Update
Posted by pugsma on June 20, 2014
5:00 pm EST: The SP-500 hit another new ATH at 1964 today. The primary count Ending Diagonal for major [5]-P3-C1 is now less than 10 points from going invalid at 1973.
The primary count is that wave v-(c) of minor 5 of major [5]-P3-C1 is headed for the v=i target of 1968. The major [5]-P3-C1 Ending Diagonal (ED) maximum is at 1973 and thus with an intra-day move above 1973 and the alternate (blue) count will take over as the primary.
The alternate (blue) count is that wave minute (4) of minor 3 of major [5]-P3-C1 completed at 1926. Wave minute (5) is underway headed for a (5)=(1) target of 2003 to complete minor 3. Should minor 3 come up short of 2003, there is also a (5)=062(1) fib target at 1974 and 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) count will remain valid as long as the minor 4 retrace remains above the minor 1 high of 1884.
Have a great weekend !
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
SP-500 daily chart (EOD):
SP-500 weekly chart (EOD):
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