July 9th, 2014: SP-500 EOD Update
Posted by pugsma on July 9, 2014
5:35 pm EST: Primary count is that wave (2) of minor A of major [A]-P4-C1 is underway and should complete at the 50%/62% retrace target of 1973/1976. For the primary count to remain valid wave (2) most not surpass the 1986 high. Once wave (2) completes, wave (3) should target the (3)=1.62*(1) area of 1929. Ultimately I’m looking for wave minor A to the 1897 pivot area before a minor B wave count back up to a 50% retrace of 1942.
The alternate (blue) count is that wave iii-(3) of minor 3 of major [5]-P3-C1 is underway headed for the iii=1.62*i target of 2013. Minor 3 should reach the 2050 area and minor 5 of major [5]-P3-C1 should complete a the [5]=[1] target of 2085. The alternate (blue) count remains valid above 1959 and then above 1944. Below 1944 the primary count will be looking very good.
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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