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January 20th, 2015: SP-500 EOD Update

Posted by pugsma on January 20, 2015

4:2o pm EST:  The primary count is that wave minor 2 of major [3]-P5-C1 completed at 1988, which is the 88% Fibonacci retrace.   Assuming minor 2 is complete at 1988, wave minor 3 of major [3] should be underway and headed for the minor 3 = 1.62*minor 1 target of 2184.   Within the wave minute (1) wave of minor 3, I have wave i-(1) at 2029, wave ii-(1) at 2004 and now wave iii-(1) underway headed for the wave iii = 1.62*i target of 2070.  Wave (1) of minor 3 should reach the 2079 area before a small wave (2) pull-back and then the launch of wave (3) of minor 3 of major [3] to new all-time highs above 2094.  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 wave count remains valid above the 1988.12 low.

The alternate (blue) count is that major [2]-P5-C1 still underway and is headed for the 50%/62%  Fibonacci retrace of 1950/1918.   The 1988 low was the completion of wave minor W of major [2] and the current bounce to 2029 so far is minor X of a double Zig-Zag.  For minor X, wave (c)=(a) at 2045.  Once minor X completes, minor Y would head for the Y=W target area of 1939.  A move above 2064.43 during minor X will invalidate this alternate (blue) count.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 1-20-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 1-20-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 1-20-15

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 1-20-15

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