October 30th, 2014: SP-500 EOD Update
Posted by pugsma on October 30, 2014
6:00 pm EST: The SPX 1995 target was exceed by 4 points today, hitting 1999. This massive bull wave off the 1820 low maybe done, but on the 15-min chart it looks like both counts need one more small push up to the SPX 2004 area to complete major [1]-P5-C1 (primary count) or major [B]-P4-C1 (alternate blue count). It’s also possible that the 2019 high will be tested before either major [1]-P5 or [A]-P4 ends. Note that alternate (blue) count is now an ascending triangle for P4-C1, which is not so different from the primary count during this first major [1] or [B] wave and major [2] or [C] wave. The big difference in the two counts comes after the primary count completes major [2]-P5 and then blasts off above SPX 2019 toward the major [3]=1.62*[1] = 2210 target, while the alternate (blue) count rattles around between 1884 and 2019 for waves major [D] and [E] to complete the P4 ascending triangle.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
SP-500 daily chart (EOD):
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