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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):

PUG SP-500 15-min EOD 12-29-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 12-29-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 12-29-14

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 12-29-14

 

This entry was posted on December 29, 2014 at 7:40 pm and is filed under SP-500. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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