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September 16th, 2014: SP-500 EOD Update

Posted by pugsma on September 16, 2014

5:30 pm EST:   As expected and predicted in my comments yesterday, the SPX made a big move up per the $NYMO SPX Buy trigger, which had the extra high odds of working since the $NYMO closed two consecutive days below the lower BB and was below -40.


Primary count is that wave (4) of minor 5 of major [5]-P3-C1 ended at 1978 and wave (5) up began headed for a target between (5)=(1)=2018 and  (5)=1.62(1)=2042.  There is also the minor 5=1 target at 2051 and the major [5]=[1] target of 2085 should the P3 wave want to extend a bit higher.

The alternate (blue) more bullish wave count is that wave (2) of minor 5 of major [5]-P3-C1 ended at 1978 and wave (3) up began headed for a target of 2150, where (3)=1.62*(1).   For this more bullish count, ultimately P3 should top at P3=1.62*P1 = 2215 towards year end or early 2015.

Both the primary and alternate blue counts could benefit from the potential triple SPX Buy trigger at the close today.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 9-16-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 9-16-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 9-16-14

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