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September 4th, 2014: SP-500 EOD Update

Posted by pugsma on September 4, 2014

5:05 pm EST:  Another day and yet another new ATH on the SP-500 at 2011.

The primary count is that wave (4) of minor 5 of major [5]-P3-C1 is playing out as a flat or expanded flat with the wave (4) target at the 23%/38% retrace of 1987/1976.  There is the wave iv-(3) of lesser degree target at 1985 and a c=1.62*a=1987 target, so there is some confluence of wave targets in the 1985-1987 area.  However, it’s possible wave (4) ended late today at 1992.  Once wave (4) complete, wave (5) targets basis wave (4) completing at the 1987 are (5)=(1)=2027 and (5)=1.62(1)=2051.  There is also the minor 5=minor 1=2051, so 2051 has some confluence of wave targets.  So wave (5) of minor 5 extends, there is the major [5]=[1] target is up at 2085.  The primary wave count remains valid as long as wave (4) remains above the wave (1) high of 1945.   Below 1945, the alternate (blue) count would likely become the primary count.

The alternate (blue) count is that P3-C1 topped today at 2011.  The P4 correction should be underway headed for the 23% retrace target of 1796.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 9-4-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 9-4-14

SP-500 4-hr chart (EOD):

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

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 9-4-14

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