August 4th, 2014: SP-500 EOD Update
Posted by pugsma on August 4, 2014
8-5-14, 10:20 am EST: Possible running flat for wave ii-(1) of minor 5 of major [5]-P3-C1. Wave iii-(1) target is 1952, where iii=1.62*i and the wave v-(1) is at 1956. Below 1916 we have the alternate (blue) count that minor 4 wave is headed a little lower before the minor 5 move up.
SP-500 15-min chart (morning):
6:10 pm EST: The triple SPX Buy Signal was confirmed at the close today: http://stockcharts.com/h-sc/ui?s=$NYAD&p=D&b=7&g=0&id=p23917655901&a=269536931&r=1377203427577&cmd=print
The primary count is that minor 4 of major [5]-P3-C1 bottomed at 1916 on Friday August 1st and the minor 5 wave is underway headed for the major [5]=[1] target of 2085.
The alternate (blue) count variant of the primary wave count is that wave iv-(c) of minor 4 reached 1943 today, just above the 38% retrace of 1939. Wave v-(c) should make a double bottom at 1916 of a slightly lower low near 1905.
Both variants of the wave count remain valid with minor 4 above the minor 1 high of 1897 or if minor 1 is adjusted slightly lower then above 1984.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
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