January 15th, 2015: SP-500 EOD Update
Posted by pugsma on January 15, 2015
5:05 pm EST: The primary count is wave minor 2 of major [3]-P5-C1 is complete or nearly complete at 1988, which is the 88% retrace. The primary count remains valid with minor 2 above 1972.56. Once minor 2 completes, wave minor 3 of major [3] should be 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 alternate (blue) count is that major [2]-P5-C1 still underway and is headed for the C=A target of 1962 or the 50% retrace of 1950. The 1988 low was the completion of wave (3) of minor C and the bounce to 2021 was wave (4). Wave (5) is underway and is headed lower than 1972 to the C=A=1962 target or the 50% retrace at 1950.
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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