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August 22nd, 2014: SP-500 EOD Update

Posted by pugsma on August 22, 2014

5:45 pm EST:  The primary count is that wave iii-(3) of minor 5 of major [5]-P3-C1 completed at 1995, just below the wave iii=1.62*i target of 1999.  Wave iv-(3) may have completed today at 1985 (23% fib 1983) or may need to retrace to the 38% fib of 1975 early next week.  The major (3) target remains at 2033, where (3)=2.62*(1).  The minor 5=1 target is 2051 and the major [5]=[1] target is 2085.

The alternate (blue) count is that wave (3) of minor 5 of major [5]-P3-C1 completed at 1995.  A wave (4) retrace to the 23%/38% fib targets of 1980/1970 is underway.  Once wave (4) completes, wave (5) should move to the (5)=(1) target of 2010 to 2010 to complete minor 5 of major [5]-P3-C1.  Note that the minor 5 = 0.62*minor 1 target is 1996 and the SP-500 hit 1995, so the top of P3-C1 can occur at anytime.  A drop below the wave (1) of minor 5 high of 1945, would signal that the alternate (blue) count has topped P3-C1 and P4-C1 correction back to the low 1800’s to upper 1700’s is underway.

Have a great weekend !

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 8-22-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 8-22-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 8-22-14

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 8-22-14

 

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