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August 13th, 2014: SP-500 EOD Update

Posted by pugsma on August 13, 2015

5:45 pm EST:   Today the SP-500 price tagged precisely the 78% retrace target at 2093 today that I discussed as the mostly likely wave ii-(3) of minor 3 target in the comments section yesterday (see below).  We should now see the SP-500 price headed below the critical 2044 level and toward the lower 2000 targets shown in detail on the 15-min chart below.  The SP-500 price continues to make a series of lower highs and lower lows, which is sign of a bearish trend.

pugsma said

Break above 2076.49 and the wave ii-(3) targets are:

50% = 2079
62% = 2085
78% = 2093 (like this one best).
88% = 2099

The primary (white/green) count is that wave minor 3 of major [3]-PA-C2 is underway with minor 2 of major [3] complete at 2114.   Wave minor 3 of major [3] should be headed below 2000, where minor 3 = 1.62*minor 1 at 2002 and major [3]=1.62*[1] at 1986.   Within minor 3, wave (1) ended at 2068, wave (2) retraced 78% to 2105 and now wave (3) is underway headed to 2013, where (3)=2.00*(1) (see the 15-min and 60-min chart for details).   Ultimately PA-C2 should reach at least 1954 (62% retrace of the P5-C1 Ending Diagonal) and maybe 1889 (78% retrace of the P5-C1 Ending Diagonal).  The primary count remains valid for minor 2 wave below 2133.

Have a wonderful weekend !!! 

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 8-13-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 8-13-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 8-13-15

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 8-13-15

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