February 11th, 2015: SP-500 EOD Update
Posted by pugsma on February 11, 2015
6:15 pm EST: The SP-500 price over the past three days while I was away only re-enforced the primary wave count as some consolidation waves materialized before wave iii-(3) of minor 3 of major [3]-P5-C1 moves to a new all-time high above 2094. We must keep in mind that this 6 year cyclical bull market is winding down at the end of Cycle 1 (C1) of Super Cycle V (SCV). We should not expect fast large moves up this late in the bull market, but rather a slow grind higher for the 200 points necessary to complete P5-C1 near my minimum target of 2254, there P5 = 0.62*P1.
The wave count details are shown below on the charts. Near term (1-2 weeks), I’m looking for wave iii-(3) to target 2134, where iii=2.62*i.
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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