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April 6th, 2015: SP-500 EOD Update

Posted by pugsma on April 6, 2015

6:10 pm EST:   The primary count is that minor B of major [5]-P5-C1 of a large P5 Ending Diagonal (ED) completed at 2046.  There should now be a minor C wave of major [5]-P5 to make a new high above 2120. Within minor C, wave (3) is underway with a target at 2118, where (3) = 1.62*(1).  From 2046 the C=A target would be 2121 and the C=1.62 target is 2168.   The major [5]-P5 wave up 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.

It is also primary count variant (see red count labels) that the move up from 2040 to 2115 completed minor C of major [5]-P5-C1 and this means the major [5] wave truncated just 5 points short of the 2120 high.  Minor 1 of major [1]-PA-C2 ended at 2046 and this move up toward the 62% retrace of 2088 is a minor 2 wave flat, where (c)=(a)=2091.  Once minor 2 completes, save minor 3 should get underway with a target of 1977, where minor 3 = 1.62*minor 1.   Within minor 3 wave, currently we are in a wave (3) head lower with target of 2006, where (3)=1.62*(1).   The major [1] target is 1967, which is also the double top (2115) target.

In either case, Cycle 1 of Super Cycle V of the 6 year, cyclical bull market has ended or will be ending in the next few weeks and a significant SP-500 correction for Cycle 2 (C2) is underway headed for the 50%/62% Fibonacci retrace area of 1391/1217 over the next year.  The Cycle 1 top would be likely on a break below 2040 and confirmed on a break of the 1981 low.  Below the 1981 level, the Cycle 2 (C2) correction of 50%/62% down to 1391/1217 is underway.   The first Primary A (PA ) wave of C2 is likely to reach the 1730 pivot area.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 4-6-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 4-6-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 4-6-15

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 4-6-15

 

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