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June 8th, 2015: SP-500 Mid-day/EOD Update

Posted by pugsma on June 8, 2015

12:45 pm EST: The primary count is that wave minor 1 of major [1]-PA-C2 completed at 2099.   Wave minor 2 played out as a flat that completed at 2122, just below the (c)=(a) = 2126 target.  Wave minor 3 is underway and should target 2063, 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 or slightly higher.   Wave major [3]-P5 completed 2135.   Wave major [4] is underway that will complete at one of the targets of C=A=2086, C=1.23*A=2078 or C=1.62*A=2064.   Once wave major [4] is complete, wave major [5] should target the 2172 to 2218 area.  Note that the Primary 5 (P5) ED maximum basis wave major [4] dropping to the lowest target of 2064, is 2064 + (2135-1981) = 2218, as the requirement for an ED wave is [5] < [3] < [1].

SP-500 15-min chart (mid-day):

PUG SP-500 15-min chart MD 6-8-15

SP-500 60-min chart (mid-day):

PUG SP-500 60-min chart MD 6-8-15

SP-500 4-hr chart (mid-day):

PUG SP-500 4-hr chart MD 6-8-15

SP-500 daily chart (mid-day):

PUG SP-500 daily chart MD 6-8-15

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