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September 9th, 2015: SP-500 EOD Update

Posted by pugsma on September 9, 2015

5:45 pm EST:   The 1947 level broke down late today invalidating the primary count contracting triangle as labeled.  A larger primary count triangle wave for major [B]-PB-C1 is still possible above Friday’s 1911 low.   However, the alternate (blue) count calling for a new low below 1867 to complete the PA-C2 wave is on about probability equal weighting with the primary count.  This alternate (blue) count would set-up nicely with some much need +Div on the daily key indicators, like the $NYMO.

The primary (white/green) count has the major [B]-PB-C2 triangle on going with the move up to 1989 today as the minor B wave.  The move down from 1989 to 1938 (thus far) is minor C that should end in the 1926 pivot support area.   For there a minor D wave up to the 1991 pivot and finally a minor E wave down to the 1956 pivot to complete major [B]-PB.   Once the major [B] triangle completes, the major [C]-PB wave should head for the 2046 pivot area.   Note that the 62% retrace target of PA-C2 for PB-C2 is at 2033 and there is a gap to fill at 2034-2036 on the break down for the 2046 pivot.

The alternate (blue) count has the Primary (A) of Cycle 2 (C2) wave still underway with the major [3]-PA low at 1867.  This move up from 1867 to 1989 has formed a major wave [4] flat wave.   Within major [4], the minor A wave reached 1993, minor B dropped to 1911 and the minor C wave hit 1989.  The major [5] wave drop to a new low below 1867 is underway with a major [5] = 1.62*[1] target of 1842.  There is also a 88% retrace of the P5-C1 wave up from 1814 to 2135 at a target of 1857 and 1849 pivot support to complete this PA-C1 wave.   The alternate (blue) count major [4]-PA flat wave should end at the 1991 pivot (1984-1998) resistance.  A move above 1991 pivot would likely mean the primary count is correct.

The very bearish alternate (red) count the has PB-C2 wave completing as flat at the 50% retrace of PA-C2 target of 2001.  From this PB-C2 completion at 1989, the PC-C2 Fibonacci extension targets are PC = PA = 1721, PC = 1.23*PA = 1659, and PC = 1.62*PA = 1555 (most likely as it re-test the year 2007 high).  The alternate (red) count PB-C2 flat wave should end at the 1991 pivot (1984-1998) resistance.  A move above 1991 pivot would likely mean the primary count is

SP-500 15-min chart (EOD):

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

SP-500 60-min chart (EOD):

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

SP-500 4-hr chart (EOD):

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

SP-500 daily chart (EOD):

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

SP-500 weekly chart (EOD):

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

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