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July 28th, 2014: SP-500 EOD Update

Posted by pugsma on July 28, 2014

5:00pm EST:  Just as predicted on Friday, the SP-500 made a new low today at 1967, which was the 62% fib retrace of the move up from 1956 to 1991.  The SP-500 continues to make a series of higher highs and higher low since early June.  The price pattern has the look of an ascending triangle as shown by the yellow lines on the charts and indicates that a bullish break-out towards SP 2027 is likely per the primary wave count shown.  Should the SP-500 make a new low below today low of 1967, then the alternate (blue) count would take over looking for a minor 4 low near the 23% fib retracement of minor 3 at 1950.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 7-28-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 7-28-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 7-28-14

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