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):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
SP-500 daily chart (EOD):
SP-500 weekly chart (EOD)
Sorry, the comment form is closed at this time.