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December 9th, 2014: SP-500 EOD Update

Posted by pugsma on December 9, 2014

5:10 pm EST:  The primary count played out as forecast today with minor A of major [2]-P5-C1 hitting the 2030-2034 target area.  The minor B wave bounce higher is underway and should reach at least the 62%/78% target area of 2062/2069, before minor C of major [2] drops to at least the C=A=2017 target area over the next week.  Once minor [2]-P5 completes the SP-500 will move much higher toward the P5-C1 target of 2524, where P5=P1, over the next 6 to 9 months.  Not that it’s also possible that major [2] ended to at 2034, as an expanded flat as per the alternate (blue) count major [4] scenario discussed.  Should the SP-500 price break above 2080 before below 2034, then the primary count will be adjusted to reflect 2034 as the major [2]-P5-C1 low and the major [3]-P5-C1 wave up is underway headed to the 2440 area.  This adjusted primary wave count would still reach the P5=P1 = 2524 target area of the next 6 to 9 months.

The alternate (blue) count has played out just as expected with the major [4]-P5-C1 expanded flat ending at 2034, just below the C=1.62*A target of 2037.   The first 5 waves up of minute (1) of minor 1 of major [5]-P5-C1 is has reach the 2061 area.  I’m expecting a small wave (2) retrace to the 50% area of 2048, before wave (2) of minor 1 heads for 2092, where (3)=1.62*(1).   Minor 1 of major [5]-P5 should reach the 2100 area of the next week.   Ultimately, P5-C1 should reach the P5=0.5*P1=2172 to P5=0.62*P1=2254 target area over the next month or two.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 12-9-14

SP-500 60-min chart (EOD):

PUG SP-500 4-hr chart EOD 12-9-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 12-9-14

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 12-9-14

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