December 15th, 2015: SP-500 EOD Update
Posted by pugsma on December 15, 2015
2:10 pm EST: The SP-500 price bounced off the 1991 pivot support and has moved up into strong overhead resistance at the 2046 pivot:
Daily Moving Average Overhead Resistance:
13-day EMA 2055 (Bear Cross below 34-day EMA)
34-day EMA 2058
50-day SMA 2059
200-day SMA 2062
Weekly Moving Average Overhead Resistance:
13-week EMA 2048
34-week EMA 2046
50-week SMA 2060
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. Within PC, the major  wave is underway headed for the 1884/1905 pivot area. This first minor 1 of major  wave completed at the 2019 pivot. The minor 2 of major  wave ended at the 88% Fib retrace of 2104. Wave minor 3 is underway to 1910, where minor 3 = 2.0*minor 1. Within minor 3, wave minute (1) ended at 1993 and wave (2) is now retracing 50%/62% to 2049/2062. Once wave (2) completes, wave (3) of minor 3 will drop below 1993, to a target of (3)=(1) at 1951. The red count remains valid as long as the wave (2) of minor 3 remains below minor 2 high of 2104.
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 1872 from September. The final P5 target is at either the P5=0.50*P1 at 2224 or P5=0.62*P1 at 2308. Within P5, the major  completed at 2116 and now major  completed as a minor A-B-C Zig-Zag that should retraced 50% to 1993. Major  wave is underway that will reach at least the = level of 2237. Within major , the minor 1 wave looks to be headed for a 2064 target before a minor 2 retrace of 50%/62% to 2029/2020. The blue count remains valid as long the minor 2 of major  wave remains above the major  low of 1993.
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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