November 20th, 2015: SP-500 EOD Update
Posted by pugsma on November 20, 2015
4:45 pm EST: 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 completed at the 2019 pivot. The minor 2 bounce looks to have concluded at the 78% Fib retrace of 2095. Wave minor 3 should now drop below 1991 pivot to the 1926/1905 pivot area, where minor 3 = 1.62*minor 1. The first minute wave (1) of minor 3 should reach the 2046 pivot area next week (see 15/60-min charts details). The red count remains valid as long this minor 2 wave bounce remains 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 the drop from 2116 to 2019 is a typical 38% retrace (2023) for the major -P5 wave. Wave major  is underway from 2019 and should reach at least to the = target 2145. There is also a double bottom target of 2170 and P5=0.5*P1 target at 2219. Within major  there should be 5 minor waves higher. Minor 1 of major  looks to have completed at 2067 and the wave 2 retrace of near 50% ended at 2046. Wave minor 3 is under and should make a new high above 2135, where minor 3 = 2.62*minor 1 at 2169 (see details on the 15/60-min charts). The blue count remains valid above the major  low of 2019.
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):
SP-500 monthly chart (EOD):
Sorry, the comment form is closed at this time.