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September 1st, 2015: SP-500 EOD Update

Posted by pugsma on September 1, 2015

5:30 pm EST:   The SP-500 price broke below the recent 1948 low at the open, eliminated the triangle wave, and triggered the flat wave drop the 1926/1905 pivot target area.

The primary (white/green) count found the Primary A (PA) of Cycle 2 (C2) low at 1867.  The SP-500 is experiencing a strong bounce for the Primary B (PB) wave that should reach the 62%/78% retrace target of 2033/2076 into mid-to-late September.   After PB-C2 completes, there should be 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.  The drop from 1990 to 1903 today, is between a 62% (1914) and 78% (1894) retrace for the major [B]-PB wave to the 1926/1905 pivot area.  The major [B] wave took the form of an expanded flat wave (A 1948, B 1993, C 1903).  Major [B] should be complete or nearly complete at today low of 1903.   Once major [B] completes, there should be major [C]-PB wave up to the 2046 pivot.   The primary count remains valid for the PB-C2 wave below the May 2015 high of 2135.  Note: On break below 1867 before above 1990, it is possible the PB-C2 wave could extend a little lower to the 1849 pivot (88% retrace from the May 2135 high).  This would mean the recent move up from 1867 to 1990 was not major [A]-PB, but rather major [4] of PA and now the major [5] of PA wave is headed for a major [5] = 1.62*[1] target of 1846.

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 at 1990.   The major [2] wave is either complete today at 1903 (between the 62%/78% retrace of 1914/1894) or will retrace 78%/88% to 1894/1882 area.  Assuming major  [2] wave is complete at 1903, the major [3]-P5 bull wave that will target the 2225, 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.  On break of the 1867 low before above 1990, the P4-C1 wave is extending lower to the 1849/1814 pivot area.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 9-1-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 9-1-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 9-1-15

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 9-1-15

SP-500 weekly chart (EOD):

PUG SP-500 weekly chart EOD 9-1-15

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