December 22nd, 2014: SP-500 Mid-day/EOD Update
Posted by pugsma on December 22, 2014
12:50 pm EST: The primary count is that wave (3) of minor 1 of major [3]-P5-C1 ended at 2078 and a small wave (4) is underway that should hold above the 23% retrace of 2058. From there the wave (5)=(1) target is at 2097 to complete minor 1. Minor 2 should then retrace back to the 23%/38% target of 2068/2050 before wave minor 3 of major [3] grinds to above 2300. Ultimately major P5-C1 should reach the P5=P1 target of 2524 over the next 9 to 12 months.
The alternate (blue) wave count minor 3 of major [3]-P5-Cq is underway headed for the minor 3 = 2.62*minor 1 target of 2097. Minor 4 should then retrace 23% to 2073 before minor 5 of major [3] should reach the 0.62*[1] target of 2131. Ultimately P5-C1 should reach either the P5 = 0.5*P1 = 2171 or P5 = 0.62*P1 = 2254 target over the next 1 to 3 months.
SP-500 15-min chart (mid-day):
SP-500 60-min chart (mid-day):
SP-500 4-hr chart (mid-day):
SP-500 daily chart (mid-day):
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