July 3rd, 2014: SP-500 EOD Update
Posted by pugsma on July 3, 2014
2:50 pm EST: The SP-500 hit a new all-time high of 1985.59 in today’s 4th of July Holiday shortened trading.
Primary count is that minute (5) of minor 5 of major [5]-P3-C1 is headed for a target at 1993, where (5)=(1). This should complete the P3-C1 wave in July 2014 that began in October 2011.
The alternate (blue) count is that wave iii-(5) of minor 3 of major [5]-P3-C1 is underway headed for wave iii-(5) target at 2013, where iii=1.62*i. The minor 3 target is 2050, where minor 3 = 1.62*minor 1 and the major [5] target is 2085, where [5]=[1]. Thus, P3-C1 should complete at 2085 in the August/September time frame.
Both wave counts remain valid above the 1944.69 level.
Note: The US markets will be closed on Friday, July 4th in observance of the Independence Day Holiday.
House Keeping: My Engineering job will be on a summer plant shutdown all of next week. Beginning today I have 10 days off work from my engineering job. I will be doing some travel with the family for part of next week. Consequently blog updates will be sporadic next week.
Enjoy the 4th of July Holiday !
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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