November 13th, 2015: SP-500 EOD Update
Posted by pugsma on November 13, 2015
1:25 pm EST: If the SP-500 continues to fall into the close, then the $NYMO has the potential to close 2 consecutive days below -40 and below the lower BB, setting up one of the most explosive ST $SPX buy triggers available. If the SP-500 rallies into close, then both the $NYMO and VIX, SPX Buy triggers from yesterday will likely be confirmed.
The primary (red) count is that Primary B (PB) of Cycle 2 (C2) wave topped at 2116 and has begun the Primary C (PC) of Cycle 2 (C2) wave headed to the 1575 target area. This first minor 1 of major -PC wave is likely headed below the 2019 pivot to the 1991 pivot area before a significant bounce. Within minor 1, wave (1) completed at 2068, wave (2) at 2087, and wave (3) ended 2027. There should be a wave (4) bounce of a 23%/38% retrace to 2041/2050 before wave (5) drops to the 1991 pivot to complete minor 1. The red count remains valid below 2116.
The alternate (blue) count is that Primary 5 (P5) of Cycle 1 (C1) has one more push up above the 2135 level. The 2116 level was the major -P5 high and this move from 2116 to 2027 (thus far) is a typical 38% retrace (2023) for major -P5 wave. Once major  completes here at the 2019 pivot, there will be a final major -P5 push up above 2135 to a target area of 2154 to 2219. Major = at 2154, there is a double bottom target of 2170 and P5=0.5*P1 at 2219. The blue count remains valid above the major  high of 1993.
Have a wonderful weekend !
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):
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