November 11th, 2015: SP-500 EOD Update
Posted by pugsma on November 11, 2015
4:50 pm EST: The SP-500 price closed at 2075.00 with the $NYMO at -31.44, which is a lower SP-500 price close than Monday’s 2078.58 with the $NYMO at -35.42. Thus, there is a 2-day, potential positive divergence (+DIV) on the $NYMO, which will often lead to a big SPX move higher. This is combined with the SPX buy trigger of the $NYMO closing back inside the lower BB for a 2nd consecutive day, after a close below the BB on Monday.
The minor 4 of major [C]-PB-C2 wave could be complete at the 38% FIB retrace of 2068 as a double Zig-Zag or might need one more move lower to test the 2046 pivot to complete as a triple Zig-Zag. In either case, once minor 4 completes, next up should be a minor 5 wave re-test of the 2135 all-time high or above to 2193. There is a double bottom (1867,1872) target at 2170. Note: it will take a break below 2022 to call the PB-C2 top.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
SP-500 daily chart (EOD):
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