January 7th, 2016: SP-500 Mid-day/EOD Update
Posted by pugsma on January 7, 2016
1:00 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. 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) retraced 88% to 2082. Wave (3) of minor 3 is underway and should drop to a target of (3)=1.23(1)=1957 or (3)=1.38(1) at 1943. Wave (4) of minor 3 should bounce 23% to 1983, basis 1954, before wave (5) completes near the minor 3 target of 1910. The primary red count remains valid below the Primary B (PB) high of 2116.
The altenate 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  is completing as a minor W-X-Y Double Zig-Zag that should retrace 62%/78% to 1965/1925. The alternate blue count remains valid as long the major  wave remains above the Primary 4 (P4) of 1872.
Finally there is a large P4-C1 triangle variant of the alternate blue count that would be in a major [C] wave down to the 1905 pivot, then a major [D] wave up to the 2079 pivot and a final major [E] wave down to the 1956 pivot to complete P4-C1. Should the 1956 pivot break, then this P4-C1 triangle count is the preferred alternate blue count.
SP-500 15-min chart (mid-day):
SP-500 60-min chart (mid-day):
SP-500 4-hr chart (mid-day):
SP-500 daily chart (mid-day):
SP-500 weekly chart (mid-day):
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