February 23rd, 2015: SP-500 EOD Update
Posted by pugsma on February 23, 2015
4:45 pm EST: The SP-500 break-out above the 2094 pivot continues.
The primary count is wave (3) of minor 3 of major [3]-P5-C1 is unfolding with a wave (3) = 1.23*(1) target of 2122. Within wave minute (3) of minor 3, it looks like wave iii-(3) completed at 2101 and wave iv looks like a flat that ended at the low of 2085. The wave v=i target is at 1221 to complete minute (3) of minor 3. Once minute (3) completes there should be about 23% retrace for wave (4) down to 2102, before wave (5) of minor 3 heads to a target of 2177, where minor 3 = 1.62*minor 1. The major [3] target is at 2232 where [3]=[1]. Ultimately P5-C1 should reach at the least the P5 = 0.62*P1 = 2254 target by the summer of 2015 and there is the possibility that P5 could extend to the P5 = P1 = 2524 target by the end of 2015 (see the alternate (blue) count on the daily chart).
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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