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October 14th, 2015: SP-500 EOD Update

Posted by pugsma on October 14, 2015

5:40 pm EST:    The 2019 pivot is now the key area to determine where or not the Primary B (PB) of Cycle 2 (C2) has ended or not.  A break back above 2022 would mean that PB-C2 is likely to re-test the SPX 2135 May 2015 All-Time High before Primary C (C) of C2 heads below 1867 in route to the 1555 to 1600 area to complete C2.

The primary (red) count is that PB-C2 played out as a major [A]-[B]-[C], 3-3-5 wave structure Flat wave, that completed at 2022 and the 2019 pivot resistance.   Primary (PC) is now underway that should drop much lower than 1867 into next year.  Preliminary target area for the completion of PC-C2 is at the 1555 to 1600 area.  The PC wave will consist of 5 major waves [1], [2], [3], [4] and [5].  The major [1] wave is just getting started with wave minute (1) of minor 1 complete at 1994 and minute (2) complete at 2006.  Wave minute (3) should now be headed for a 1961 target, where (3)=1.62(1).  The minor 1 of major [1] target is the 1926 pivot area and the major [1] target is the 1814 pivot area.    The primary (red) count remains valid below 2022.

The alternate (blue) count is that PB-C2 will re-test the old 2135 high as Cycle 2 (C2) plays out as a flat or expanded flat.  For the PB there is major [C]=1.62[A] target at 2121 and the 88%/100% retrace is at 2103/2135.   Within major [C]-PB, wave minor 1 complete at 2022 and now a minor 2 correction is underway with targets are of 23%/38% of 1988/196.  I’d expect the retracement for minor 2 to be smaller than usual here and hold above the 1953 to 1956 weekly gap.  A break below the 1953 to 1956 weekly gap would indicate the primary (red) count is likely playing out, however the alternate (blue) count would remain valid for minor 2 above 1872.

SP-50 15-min chart (EOD):

PUG SP-500 15-min EOD 10-14-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 10-14-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 10-14-15

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 10-14-15

SP-500 weekly chart (EOD):

PUG SP-500 weekly EOD 10-14-15

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