December 29th, 2014: SP-500 EOD Update
Posted by pugsma on December 29, 2014
7:40 pm EST: The SP-500 price hit yet another new all-time high of 2093.55 today.
The primary count is that wave (5) of minor 1 of major [3]-P5-C1 is headed for the (5)=(1) target of 2108. Minor 2 should then retrace back to the 23%/38% target of 2076/2056 before wave minor 3 of major [3] grinds to above 2350. 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-C1 is underway headed for the minor 3 = 2.62*minor 1 target of 2097. Today’s 2094 high could have ended minor 3. 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 (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
SP-500 daily chart (EOD):
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