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July 24th, 2014: SP-5000 EOD Update

Posted by pugsma on July 24, 2014

4:50 pm EST:   Another new SP-500 ATH high of 1991.39 was hit today.   I see the possibility of 5 waves up from 1956 to 1991, leading to two wave count options discussed below.

Primary count wave (1) of minor 5 of major [5]-P3-C1 completed at 1991 today.  Wave (2) should retrace to the 50%/62% fib target of 1973/1969 before waves (3) and (5) of minor 5 heads toward the minor 4 triangle target of 2027 to complete P3-C1.  The primary wave count remains valid above the minor 4 triangle wave (e) low of 1956.

Alternate (blue) count wave minor 3 of major [5]-P3-C1 completed at 1991.   Assuming 1991 completed minor 3, then we should see about 40 point drop for minor 4 down to the 23% fib retrace of 1950.   After minor 4 completes, minor 5 should head to a new high above 2000 towards the major [5]=[1] = 2085 target.  This alternate (blue) count remains valid  for minor 4 above the minor 1 high of 1897.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 7-24-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 7-24-14

SP-500 4hr chart (EOD):

PUG SP-500 4-hr chart EOD 7-24-14


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