September 25th, 2015: SP-500 EOD Update
Posted by pugsma on September 25, 2015
5:30 pm EST: A quick EOD update on the wave counts after the SP-500 moved to 1953 and then closed today at 1931. The SPX price was once again rejected after hitting the falling 13-day EMA (1954), as it has been during this move lower from the 2046 pivot support break in mid-August. The SPX price is not trapped in a tight range between the 1906 and 1956 pivots. The next break of one of those pivots should propel the SPX down (primary) or up (alternate) by 80 to 100 points (+/- 5% from 1931).
Primary (red) count completed minor 2 of major [1]-PC-C2 at 1953 today and wave minor 3 headed for a new low below 1867 began. Within the minor 3, wave (1) completed at 1922 and wave (2) at 1935. Next up should a wave (3) of minor 3 headed for 1854, where (3) = 2.62*(1). The minor 3 = minor 1 target is 1841. Ultimately major [1]-PC should reach the 1814 pivot over the next 1 to 2 weeks. The primary count a currently labeled is valid below the 1953 level.
The alternate (blue) count completed minor 1 of major [C]-PB-C2 at 1950 today and then completed an expanded flat for the minor 2 wave just above the 78% retrace (1918) at 1922. Wave minor 3 should now be underway with at target of 2029, where minor 3 = 2.62*minor 1. Ultimately major [C]-PB should reach 2033, which is the 62% retrace of the 2135 to 1867 drop and where major [C]=[A] at 2035. Note that the alternate (blue) count as currently labeled would become invalid on a drop below 1909.
Have a fun Lunar Eclipse, Super Moon weekend !
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
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