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September 29th, 2015: SP-500 EOD Update

Posted by pugsma on September 29, 2015

4:30 pm EST:   Today the SP-500 price formed a consolidation triangle around the 1884 pivot, then made a slightly lower, low at 1872.

Primary (red) count is that minor 3 of major [1]-PC-C2 is headed for a new low below 1867.  Within the minor 3, wave (1) completed at 1922, wave (2) completed at 1935, wave (3) completed at 1876, where (3) = 2.0*(1) and wave (4) retraced 38% to 1899.   Wave (5) of minor 3 is underway headed towards the minor 3 = minor 1 target at 1841.  Ultimately major [1]-PC should reach the 1814 pivot over the next 1 to 2 weeks.  After major [1]-PC completes near the 1814 pivot, there should be a counter-trend major [2]-PC wave rally to between a 50%/62% retrace (1918/1944) of major [1], that can not exceed the PB high of 2021.

The alternate (blue) count is that the Cycle 2 (C2) wave is still in the Primary A (PA) wave and this current move down from 2021 is the final major [5]-PA-C2 wave with a target just above the 1849 pivot.  For major [5], minor 4 complete at 1953 and this move down from 1953 is the minor 5 wave.  Within minor 5, minute (5)=(1) at 1868 and (5)=1.62*(1) at 1849, so the PA low could have ended today at 1872 with a 5 point truncation or should finish out tomorrow just below 1872 and above the 1849 pivot.   Once PA completes, there will be an even larger PB wave rally to retrace 50%/62% (1997/2030) of PA that can not exceed the Cycle 1 (C1) high of 2135.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 9-29-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 9-29-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 9-29-15

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 9-29-15

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