December 3rd, 2015: SP-500 EOD Update
Posted by pugsma on December 3, 2015
4:40 pm EST: The SP-500 price closed just above key 2046 pivot support. Both wave counts remain valid between 2019 and 2116.
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 of major  wave ended at the 88% Fib of 2104 or the (c)=0.5(a) at 2109. Wave minor 3 is underway and should drop below the 2019 pivot to the 1926/1905 pivot area, where minor 3 = 2.0*minor 1. Within minor 3, wave (1) looks to have completed today at 2042 or will test slightly lower to 2037/2029 tomorrow, before a wave (2) 50%/62% Fib retrace to 2073/2081. The red count remains valid as long as the minor 2 of major  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 -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 double bottom target of 2170 or the P5=0.5*P1 target at 2219. Within major  there should be 5 minor waves higher. Minor 1 of major  completed at 2097 and wave minor 2 took the form of an expanded flat wave that either completed today at 2042 or will test the 78%/88% retrace of 2037/2029 tomorrow. Once minor 2 is complete, the minor 3 wave should make a new all-time high above 2135, where minor 3 = 1.62*minor 1 at 2168. The blue count remains valid as long as the minor 2 of major  wave remains above the major  low of 2019.
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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