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August 1st, 2014: SP-500 Pre-Market Update

Posted by pugsma on July 31, 2014

7:15 pm EST:  Primary wave count is wave v-(c) of minor 4 of major [5]-P3-C1 either ended today at 1930, where v=0.62*i or will extend a bit lower to the wave v=i target of 1921.  The  38%  Fibonacci retrace of minor 3  target for the minor 4 wave is at 1923 and there is pivot support at 1926 (1919 to 1933).  Finally the wave (c)=2.62(a) target is at 1922.  This primary wave count remains valid above the minor 1 of major [5] high of 1897.

We had a triple Bollinger Band (BB) breach of the SPX, $NYMO and VIX at the close today.   This sets up a strong SPX Buy trigger with confirmation of each signal on a close back inside the respective BB’s.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 7-31-14

SP-500 60-min chart (mid-day):

SP-500 60-min chart MD 7-30-14


SP-500 4-hr chart (mid-day):

SP-500 4-hr chart MD 7-30-14


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