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August 27th, 2015: SP-500 EOD Update

Posted by pugsma on August 27, 2015

5:30 pm EST:  The SP-500 price continued higher as expected today and eclipsed my 1966-1971 area target, hitting 1990 before pulling back to 1948 and closing at 1988.

The primary (white/green) count found the Primary A (PA) of Cycle 2 (C2) low at 1867.  There should now be a strong Primary B (PB) wave bounce to the 62%/78% retrace target of 2033/2076 into late summer/early fall followed by a much bigger drop for the PC-C2 wave that should reach the 1575 pivot area (i.e. the year 2007 high) into mid-year 2016.  The details for the PB wave are shown on the 15-min and 60-min charts.  It looks like the major [A]-PB wave completed at 1990 today or will have one more push up to 1998 tomorrow. Next there should be a 50% retrace for major [B]-PB wave to the 1926 pivot area followed by a major [C]-PB wave up to the 2046 pivot.  It’s also possible the major [B] will form a triangle wave in which chase today’s pull-back low of 1948 maybe have the minor A of major [B].   The primary count remains valid for the PB-C2 wave below the May 2015 high of 2135.

The alternate (blue) count has found the Primary 4 (P4) of Cycle 1 (C1) bottom at 1867 and is now in the very early stages of the Primary 5 (P5) of Cycle 1 (C1) wave that will make a new high above 2135 (initial P5-C1 targets are in the 2200-2300 area).   It looks like major [1]-P5 completed today at 1990 or will have one more push up to 1998 tomorrow.   There should be a major [2] wave retrace of 50% to the 1926 pivot area.  Followed by major [3]-P5 bull wave that will target the 2251, where major [3] = 2.62*[1].   Ultimately P5-C1 should reach the P5 = 0.5*P1 = 2219 to P5 = 0.62*P1 = 2299 targets into the year 2016.  The alternate count remains valid above the 1867 low.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 8-27-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 8-27-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 8-27-15

SP-500 daily chart (EOD):

PUG SP-500 dailly chart EOD 8-27-15

SP-500 weekly chart (EOD):

PUG SP-500 weekly chart EOD 8-27-15

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