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October 12th, 2015: SP-500 EOD Update

Posted by pugsma on October 12, 2015

6:30 pm EST:   The SP-500 price has reached the 2019 pivot area and may reach the 2046 pivot area before completing the Primary B (PB) of Cycle 2 (C2) wave.

The primary count is that PB-C2 is playing out as a major [A]-[B]-[C], 3-3-5 wave structure Flat wave, that will test the 2019 to 2046 pivot resistance, where the PA-C2 wave break-down occurred in August.   Once PB-C2 completes the largest Cycle 2 (C2) wave, Primary (PC), will drop much lower than 1867 into next year.   Within PB, the 5-wave structure major [C] wave is nearly complete coming off the recent 1872 low.   Within major [C], wave minor 1 completed at 1927, wave minor 2 was a 62% Fib retrace to 1894, and minor 3 completed at 1992 near the  minor 3 = 1.62*minor 1 target of 1983.  Minor 4 completed as a shallow triangle wave at the 23% Fib retrace of 1969 and now the minor 5 wave is nearly complete at the minor 5 = minor 1 target of 2027.  The major [C]=[A] target is 2026 to complete the PB Flat and also the 62% retrace target for PB is at 2033.  Thus, there is a confluence of PB target in the 2019 to 2046 pivot resistance band.  The primary count remains valid for PB below the 2135 level.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 10-12-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 10-12-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 10-12-15

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 10-12-15

SP-500 weekly chart (EOD)

PUG SP-500 weekly EOD 10-12-15

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