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March 13th, 2015: SP-500 EOD Update

Posted by pugsma on March 13, 2015

7:05 pm EST:   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.  Wave (1) of minor A completed at 2066, wave (2) retraced near 100% of (1) down to 2041 today and now wave (3) is now here what that should reach the wave (3)=1.62*(1) target of 2083.  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 or may need a little more correction down to the 62% Fibonacci retrace of 2034..   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.

Have a great weekend ! 

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 3-13-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 3-13-15

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