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October 24th, 2014: SP-500 EOD Update

Posted by pugsma on October 24, 2014

6:50 pm EST:   The SP-500 closed at 1965 on a weekly high and is now up 145 points (+8.0%) off the P4-C1 low of 1820, as called here on Oct 16th.

The primary count is looking for a 1995 target to end major [1]-P5-C1 early next week.  From todays 1946 minor 4 of major [1] low, it looks like a minute (1) and (2) start to the minor 5 wave up to the minor 5=1 target of 1995.   Wave minute (3) of minor 5 should target (3)=1.62*(1) at 1983 on Monday.  Once major [1]-P5 completes near the 1991 pivot, there should the first significant retracement since the P4-C1 low during the major [2]-P5-C1 wave.  The preliminary target for major [2]-P5 is a 50% Fibonacci retracement to the 1905 pivot, basis major [1]-P5 ending at 1995.

The alternate (blue) count for the P4-C1 large triangle is quickly fading in terms of probability and is now at less than 30% above the C=A target of 1956 and the 1956 pivot.

Have an awesome weekend !

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 10-24-14

SP-500 60-min charts (EOD):

PUG SP-500 60-min chart EOD 10-24-14

SP-500 4-hr charts (EOD):

PUG SP-500 4-hr chart EOD 10-24-14

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 10-24-14

SP-500 weekly chart (EOD):

PUG SP-500 weekly chart EOD 10-24-14

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