August 19th, 2014: SP-500 EOD Update
Posted by pugsma on August 19, 2014
4:30 pm EST: Primary count is wave iii-(3) of minor 5 of major [5]-P3-C1 is headed for the iii=1.62*i target at 1999. Within wave iii-(3), wave sub-minuette 3 likely topped today at 1983 and a wave 4 of iii-(3) pull-back of about 10 to 14 points to 1973/1969 is likely before the wave 5-iii-(3) advance to the 1999 target. The (3)=2.62*(1) target is 2033, the minor 5=1 target is 2051, and the major [5]=[1] target is 2085, so there could still be 100 points more to the upside to complete P3-C1. The primary count remains valid above the wave ii-(3) low of 1941.
For the alternate (blue) count wave minor B is playing out as a double zig-zag, (w)-(x)-(y), where (y)=1.23(w) = 1978 and the 88% fib retrace of 1981. The alternate (blue) count is now looking for a minor C of major [A]-P4-C1 drop to 1843, where C=1.62*A. The alternate (blue) count is invalid on move above 1991.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
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