November 12th, 2015: SP-500 EOD Update
Posted by pugsma on November 12, 2015
4:55 pm EST: The SP-500 price closed at the key 2046 pivot support. The McClellan Oscillator, $NYMO closed today oversold below -40 at -60.49 vs a -49.54 lower BB, triggering a SPX Buy signal. It will take a close of the $NYMO back inside the lower BB to confirm the signal. Also, the VIX closed at 18.27 vs a 17.25 upper BB, triggering a 2nd SPX Buy Signal. It will take a VIX close back inside the upper BB to confirm the signal. See the chart below:
Wave minor 4 of major [C]-PB-C2 is complete or nearly complete at the 2046 low today. There is a (c)=(a) target of 2039 and 38% retrace at 2032, should the SPX price want to test lower than 2046. Once the minor 4 wave completes, wave minor 5 should reach the old all-time high of 2135 (flat C2) to the 2193 area (expanded flat C2) by the end of year 2015 to early 2016 to complete the PB-C2 wave.
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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