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November 14th, 2014: SP-500 EOD Update

Posted by pugsma on November 14, 2014

5:50 pm EST:  Not change in the wave counts.  Note that on the weekly chart the MACD (12, 26) indicator closed this week with a bull-cross, which often signals that the long-term (6 to 9 month) trend is up and would agree with primary wave count P5-C1 top in mid-to-late 2015.

The SP-500 has reached and inflection point between the two completing wave counts.  The primary count needs major [1]-P5-C1 to end here at the minor 5=1 target of 2050.  Any move above 2050 towards 2086 or higher means that the alternate (blue) count, that is in wave major [3]-P5-C1, is more likely.  Also, the coming correction or either wave count will help to determine which one is correct.   From 2050 a deep retrace of 50%/62% (1935/1914) would mean the primary count major [2]-P5 wave is underway or from 2086 a shallow 23%/38% retrace (2049/2026) for major [4]-P5-C1 would mean the alternate (blue) count is more likely to play out to P5-C1 top sooner (1-2 months) rather than later (6- 9 months).

Have a wonderful weekend !

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 11-14-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 11-14-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 11-14-14

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 11-14-14

SP-500 weekly chart (EOD):

PUG SP-500 weekly chart EOD 11-14-14

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