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March 11th, 2015: SP-500 EOD Update

Posted by pugsma on March 11, 2015

4:50 pm EST:   The McClellan Oscillator ($NYMO) closed back inside its lower BB today at -45 vs -55 and confirmed the $NYMO based SP-500 Buy Signal.   The SP-500 price closed below its lower BB for a 2nd consecutive day, setting up another potential SP-500 Buy Signal on a close tomorrow back inside its lower BB.  See the chart below for details.

http://stockcharts.com/h-sc/ui?s=$NYAD&p=D&b=7&g=0&id=p88512801943&a=269536931&r=1410958141020&cmd=print

The primary count is that major [4]-P5-C1 of a large P5 Ending Diagonal (ED) is nearing its end at the 50%/62% Fibonacci retrace area of 2051  to 2034.   The primary count of the ED remains valid with major [4] above the major [2] low of 1981.   Once major [4] completes, the major [5]-P5 wave must complete with major [5] < [3], which is 139 points above the major [4] low.   If major [4] completed today at 2040, then the maximum for major [5] is 2044 + 139 = 2179 and if major [4] drops to the 62% retrace then the maximum  for major [5] is at 2034 + 139 = 2173.   The P5 = 0.5*P1 target is at 2172.  Cycle 1 of Super Cycle V of the 6+ year, cyclical bull market is likely coming to end in the next month or two.   Note: The Cycle 1 top would be confirmed on a break of the 1981 low.

The alternate (blue) remains unchanged in that this correction is wave (2) of minor 3 of major [3]-P5-C1 that will target the 50%/62% Fib retrace area of 2051/2034.  Like the primary wave count, the alternate (blue) count remains valid above the minor 2 low of 1981.  This alternate (blue) count is considerably more bullish than the primary count and would mean that the SP-500 could reach the P5 = P1 target of 2524 over the next year.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 3-11-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 3-11-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 3-11-15

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 3-11-15

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