May 28th, 2015: SP-500 EOD Update
Posted by pugsma on May 28, 2015
5:45 pm EST: Cycle 1 (C1) topped at 2135. The Cycle (C2) correction is likely underway.
Wave minor 1 of major [1]-PA-C2 completed at 2099. Wave minor 2 either completed at the 78% retrace of 2127 or will test 88% retrace of 2131 tomorrow. Wave minor 3 should target 2069, where minor 3 = 1.62*minor 1. Major [1] should target the 2046 support area. Details are shown on 15-min and 60-min charts below.
Cycle 2 (C2) wave is likely headed for the 38%/50% Fibonacci retrace of Cycle 1 at 1577/1401 over the next year. The first Primary A (PA ) wave of C2 is likely to reach the 1814 pivot area (-15% correction) by the fall of 2015.
Have an awesome weekend !
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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