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July 13th, 2015: SP-500 Mid-day/EOD Update

Posted by pugsma on July 13, 2015

1:45 pm EST:  With the $NYMO closing above the zero line on Friday and moving higher today, the 2-month +Div has been confirmed from early May.  This gives the alternate (blue) count the probability edge over the primary wave count, but it will take a break above 2130 and 2135 to confirm (and modify the charts).

http://stockcharts.com/h-sc/ui?s=$NYAD&p=D&b=7&g=0&id=p88512801943&a=269536931&r=1410958141020&cmd=print

The primary count is that major [3] of PA-C2 down is underway from the major [2] high of 2130 with the major [3] target at [3]=2.62*[1] = 1964 target.  Within wave major [3], minor 1 bottomed at 2056.  The minor 2 now looks to be playing out as an expanded flat that should target the 62%/78% retrace area of 2097/2111.   Once minor 2 is complete, minor 3 of major [3] should head to the 1956 pivot area, where mirror 3 = 1.62*minor 1 = 1977.   Ultimately PA-C2 should test the 1926 pivot to 1884 pivot area, which is a 62%/78% retrace of the P5-C1 Ending Diagonal (ED).  The primary count remains valid for minor 2 of major [3] below the major [2]-P5-C1 high of 2130.   The primary count remains valid below 2130 and 2135.

The new alternate (blue) count is that P4-C1 played out as shallow flat over the past 4-month.  P4-C1 ended at 2044 and P5-C1 is now underway that should reach at least a P5 = 0.5*P1 target of 2374 and could reach much higher to P5 = 0.62*P1 = 2481 or P5 = 2749 over the next year.   Major [1]-P5 should reach 2120 before a major [2]-P5 retrace of 50% to 2082.  Within major [1], minor 1 reached 2084 and minor 2 retraced almost all of minor 1 to 2045.  Now minor 3 is underway with a minor 3 = 1.62*minor 1 target of 2109.  The alternate (blue) count remains valid above 2044.

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

PUG SP-500 15-min MD 7-13-15

 

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

PUG SP-500 60-min MD 7-13-15

 

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

PUG SP-500 4-hr MD 7-13-15

 

SP-500 daily chart (mid-day):

PUG SP-500 daily MD 7-13-15

 

 

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