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September 2nd, 2014: SP-500 EOD Update

Posted by pugsma on September 2, 2014

5:35 pm EST:   Looks like an ascending triangle has formed over the past few days and may have ended today at 1995.  This would be bullish for the VST to ST.

Primary count is that wave iv-(3) of minor 5 of major [5]-P3-C1 completed today at 1995.  Wave v-(3) of minor 5 should now head for the wave (3)=2.62*(1) target of 2033.   After wave (3) completes at 2033, wave (4) should retrace about 23% to 2009 before wave (5) heads for the (5)=(1) target of 2049.  There is also a minor 5=1 target in the same area at 2051.

The alternate (blue) count is that wave (4) of minor 5 of major [5]-P3-C1 completed today at 1995.  The final minute wave (5) should now head for the target area of (5)=0.62(1)=2010 to (5)=(1)=2025 to complete P3-C1.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 9-2-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 9-2-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 9-2-14

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