January 22nd, 2015: SP-500 EOD Update
Posted by pugsma on January 22, 2015
5:25 pm EST: The primary count is that wave (1) of minor 3 of major [3]-P5-C1 is underway head for the 2079 pivot area. 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 to the 38%/50% fib retrace of 2044/2034 and then the launch of wave (3) of minor 3 of major [3] to new all-time highs above 2094. Wave minor 3 of major [3] should be headed for the minor 3 = 1.62*minor 1 target of 2184, wave major [3] should reach at least the [3]=[1] target of 2234 and ultimately 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 1922 low was the completion of wave minor A of major [2] and the double bounce to 2064 is all or most of a minor B flat. For minor B, wave (c)=(a) at 2060. Once minor B completes, minor C should head for the C=A=1962 or C=1.23*A=1938 to complete major [2]. A move above 2093.55 during minor B will invalidate this alternate (blue) count.
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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