January 1st, 2015: SP-500 Update
Posted by pugsma on January 1, 2015
5:oo pm EST: Welcome to the year 2015 PUG SMA Premium Service. 2015 marks the beginning of the 6th year since the service inception in January 2010.
The primary count is that wave 1 of major [3]-P5-C1 ended at 2094 at the (5)=0.62*(1) target of 2093. The minor 2 correction is well underway and is complete or nearly complete near the Fibonacci retrace 38%/50% target of 2048/2034. Minor 2 remains valid above the major [2] low of 1973. Once wave minor 2 is complete, wave minor 3 of major [3] should grind much higher 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 ended at 2094, which is just shy of the minor 3 = 2.62*minor 1 target of 2097. The wave minor 4 correction looks to be complete or nearly complete near the 38% retrace target of 2055. Wave 4 remains valid above the minor 1 high of 2012. Wave minor 5 of major [3] should now move up to 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 (12-31-14, EOD):
SP-500 60-min chart (12-31-14, EOD):
SP-500 4-hr chart (12-31-14, EOD):
SP-500 daily chart (12-31-14, EOD):
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