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January 14th, 2015: SP-500 EOD Update

Posted by pugsma on January 14, 2015

4:10 pm EST:   It’s time to focus on a couple of wave counts that are both bullish for the IT-LT (next 6 to 9 months).

The primary count is wave minor 2 of major [3]-P5-C1 is complete today at 1988, which was the 88% retrace of the minor 1 wave move up from 1972 to 2094.   Wave minor 3 of major [3] should now be underway headed for the minor 3 = 1.62*minor 1 target of 2184.   Major [3] should reach at least the [3]=[1] target of 2234 and ultimate major [5]-P5-C should reach at least the P5=0.62*P1 target of 2254.   The primary count remains valid as long as the minor 2 of major [3] wave remains above the major [2] low of 1972.56.

The alternate (blue) count is that major [2]-P5-C1 still underway and is headed for the C=A target of 1962.   The 1988 low today was the completion of wave (3) of minor C and the bounce is wave (4) that has a 38% retrace target of 2014.   Once wave (4) completes, there should be one more wave (5) headed lower than 1988 to the C=A target of 1962.  This alternate (blue) count remains valid as long as wave (4) does now exceed the wave (1) low of 2022.58.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 1-14-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 1-14-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 1-14-15

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 1-14-15

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