April 20th, 2015: SP-500 EOD Update
Posted by pugsma on April 20, 2015
4:20 pm EST: The primary count is that minor C of major [5]-P5-C1 truncated at 2111, just shy of the 2121, C=A target. Cycle 2 (C2) is underway with wave minor 1 of major [1]-PA-C2 ending at 2072. The minor 2 bounce is well underway to the 78%/88% retrace of 2102/2106. Note: The primary count would go invalid on a move above 2111. From the minor 2 level of 2102/2106, minor 3 should reach the 2.62*minor 3 target of 2000/2004. Details are shown on the 15-min chart. Major [1] should reach at least the 1991 pivot area over the next week or two. The Cycle 2 (C2) wave is likely headed for the 50%/62% Fibonacci retrace area of 1391/1217 over the next year. The first Primary A (PA ) wave of C2 is likely to reach the 1814 pivot area (a -15% correction) over next several months.
The alternate (blue) count is that the low of 2072 ended a minor B of major [5]-P5-C1 expanded flat. This would mean the SP-500 is ready to finally push higher than 2120 to complete minor C of major [5]-P5-C1 at either C=A=2134 or C=1.62*A=2172 over the next couple of weeks to a month to complete the Ending Diagonal for P5-C1. P5 = 0.5*P1 = 2172. Note that the alternate (blue) count goes invalid on a move below 2072 an then 2040. Note that the ED maximum is 2179 (2040 + (2120-1981)), as the requirement for an ED wave is [5] < [3] < [1].
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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