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June 25th, 2014: SP-500 EOD Update

Posted by pugsma on June 25, 2014

5:30 pm EST:   The primary count P4-C1 correction down from 1968 to at least the 23% fib retracement of 1763 is underway.  This P4-C1 wave should be approximately a 10% correction going into the early fall 2014.  I’m looking for 5 minor wave decline from 1968 to the 1849 pivot complete major [A]-P4 before a 50% retrace to 1902 for major [B]-P4 and then a larger drop for major [C]-P4 down to 1763.  From the P3-C1 top of 1968, wave minute (1) of minor 1 of major [A]-P4-C1 completed at 1947.  Wave (2) is the 62% fib retrace to 1961 today.  As long as wave (2) remains below 1968, the primary count remains valid.  Wave (3) of minor 1 should target 1927, where (3)=1.62*(1).  Ultimately wave minor 1 of major [A]-P4 should reach the 1900 to 1910 area.

The alternate (blue) count is that wave minute (a) of minor 4 of major [5]-P3-C1 completed at 1947.  Wave (b) of minor 4 is the 62% fib retrace to 1961 today.  Wave (c) of minor 4 should target the (c)=(a)=1940 to (c)=1.62(a) = 1927 area, which corresponds to a wave minor 4 fib retrace of 23% at 1933.  Once minor 4 completes, minor 5 of major [5]-P3-C1 will top in the 2000-2023 area, where minor 5 = 0.62*minor.  The alternate (blue) count will remain valid as long as the minor 4 retrace remains above the minor 1 high of 1884.  Thus it will take a break of 1884 to fully confirm the P3-C1 top is in place.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 6-25-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 6-25-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 6-25-14

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