June 3rd, 2015: SP-500 Mid-day/EOD Update
Posted by pugsma on June 3, 2015
11:10 am EST: The primary count is that wave minor 1 of major [1]-PA-C2 completed at 2099. Wave minor 2 is playing out as a flat that should complete at the 78% retrace of 2127, where (c)=(a). Once minor 2 is complete, wave minor 3 should target 2069, where minor 3 = 1.62*minor 1. Major [1] should target the 2046 support area. Cycle 1 (C1) likely topped at 2135 and the Cycle (C2) correction is underway. However, a break of 2099, then 2068 and finally 2046 is needed for full confirmation. Note: The primary count is valid for minor 2 below the 2135. Above 2135, the alternate (blue) count becomes the primary.
The alternate (blue) count is that the P5-C1 Ending Diagonal (ED) pattern is extending toward the P5 = 0.5*P1 = 2172 target. Note that the Primary 5 (P5) ED maximum is 2185=(2046 + (2120-1981)), as the requirement for an ED wave is [5] < [3] < [1].
SP-500 15-min chart (MD):
SP-500 60-min chart (MD):
SP-500 4-hr chart (MD):
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