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):
12:00 pm EST: Here is the updated 15-min chart.
SP-500 15-min chart (mid-day):
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):
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):
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