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December 18th, 2014: SP-500 EOD Update

Posted by pugsma on December 18, 2014

5:50 pm EST:   The major [2]-P5-C1 low at 1972 was confirmed at the open today on the move above 2037.   The SP-500 price then proceeded to climb all day long in a primary count wave (3) of minor 1 of major [5]-P5-C1, that exceeded the (3)=1.62*(1) target of 2057 at the close of 2061.  I’m expecting wave (3) to end here at to the 2079 pivot area and then should be a wave (4) small 23% retrace to hold the 2046 pivot area before wave (5) of minor makes a new all-time high above 2079 to the 2085 to 2100 area.   The largest retrace of major [3] should then occur during the minor 2 wave that again should hold the 2046 pivot area, before minor 3 or major [3] launches much higher to a target near minor 3 = 2.62*minor = 2338.  Ultimately P5-C1 should reach the P5=P1 = 2524 target over the next 6 to 9 months.

The alternate (blue) count is that minor 3 of major [3]-P5-C1 is underway headed for a minor 3 = 2.62*minor 1 = 2097 target.  Major [3]-P5-C1 should reach 2131, where major [3] = 0.62*[1].  Ultimately P5-C1 should reach the P5 = 0.5*P1 = 2171 or P5 = 0.62*P1 = 2254 target.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 12-18-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 12-18-14

SP-500 4-hr chart (EOD):

PUG SP-500 4hour chart EOD 12-18-14

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 12-18-14

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