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July 31th, 2014: SP-500 Mid-day/EOD Update

Posted by pugsma on July 31, 2014

4:35 pm EST:   Here is the final SP-500 15-min chart at the EOD.   Interesting wave v=0.62*i at 1930, right where the SP-500 closed.

SP-500 15-min chart (EOD):

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

12:00 pm EST:   Here is the updated 15-min chart.

SP-500 15-min chart (mid-day):

SP-500 15-min chart MD 7-30-14

11:40 pm EST:   Here is the updated 60-min chart.  If the 23% fib retrace of 1950 and (c)=1.62*(a) target of 1946 breaks down, then a possible wave count for wave iii-(c) of minor 4 at 1939 where iii=1.62*i, wave iv-(c) bounce to 23%/38% fib of 1947/1953 and finally wave v-(c) drop to 1924 to 1930 where v=i.  Also (c)=2.62*(a) at 1922.

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

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

11:10 pm EST:  Here is a look at the updated wave count on the SP-500 4-hr chart.  The minor 4 low could occur at any point from here at 1943 to the 1926 pivot area (1916 to 1933).  There is good channel support for minor 4 of major [5]-P3-C1 at the 1926 pivot area and the 38% retrace target of 1923.  The primary count remains valid as long as minor 4 remains above the minor 1 high of 1897.  Basis 1923, the minor 5=1 target is 2082 and the major [5]=[1] target is 2085 to complete P3-C1 later this fall.

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

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

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