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December 1st, 2015: SP-500 EOD Update

Posted by pugsma on December 1, 2015

5:40 pm EST:   The red wave count is at the 2104 to 2109 area where it was forecast to terminate.  It must end here and not break above 2116.48.  Above 2116.48, the blue wave count will be confirmed and we should expect to the see the SP-500 price move higher to at least the 2170 to 2219 area over the next 1 to 3 months.   Details of both counts are shown on the charts below.

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 [1]-PC wave completed at the 2019 pivot.   The minor 2 of major [1] bounce should end at the 88% Fib of 2104 or the (c)=0.5(a) at 2109.  After wave minor 2 completes, wave minor 3 should drop below 1991 pivot to the 1926/1905 pivot area, where minor 3 = 2.0*minor 1.   The red count remains valid as long as the minor 2 of major [1] wave remains below the PB high of 2116.

The alternate (blue) count is that Primary 5 (P5) of Cycle 1 (C1) has one more push up above the 2135 level coming of the Primary 4 (P4) low of 1867 from August.   The 2116 level was the major [3]-P5 high and the drop from 2116 to 2019 is a typical 38% retrace (2023) for the major [4]-P5 wave.  Wave major [5] is underway from 2019 and should reach at least to the double bottom target of 2170 or the P5=0.5*P1 target at 2219.   Within major [5] there should be 5 minor waves higher.  Minor 1 of major [5] completed at 2097 and wave minor 2 retraced 38% to 2070.  The minor 3 wave is underway to make a new all-time high above 2135, where minor 3 = 1.38*minor 1 at 2178.  The blue count remains valid as long as the minor 2 of major [5] wave remains above the major [4] low of 2019.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 12-1-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 12-1-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 12-1-15

SP-500 daily chart (EOD):

PUG SP-500 Daily EOD 12-1-15

SP-500 weekly chart (EOD):

PUG SP-500 Weekly EOD 12-1-15

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