March 12th, 2015: SP-500 EOD Update
Posted by pugsma on March 12, 2015
5:20 pm EST: The SP-500 price back inside its lower BB for a confirmed SP-500 Buy Signal. This follows yesterday’s confirmed $NYMO SP-500 Buy Signal. See the chart below for details.
The primary count is that major [4]-P5-C1 of a large P5 Ending Diagonal (ED) completed at 2040. The major [5]-P5 wave up is underway and must complete with major [5] < [3], which is 139 points above the major [4] low or 2040 + 139 = 2179. The P5 = 0.5*P1 target is at 2172. Wave major [5] of the ED should be 3-wave, minor A-B-C move up to 2172. Wave minor A is underway and should reach the 2094 to 2120 pivot area. The primary count of the ED remains valid with major [4] above the major [2] low of 1981. 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) is that wave (2) of minor 3 of major [3]-P5-C1 completed at 2040. 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. Like the primary wave count, the alternate (blue) count remains valid above the minor 2 low of 1981.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
SP-500 daily chart (EOD):
Sorry, the comment form is closed at this time.
