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January 8th, 2016: SP-500 Mid-day/EOD Update

Posted by pugsma on January 8, 2016

January 9th, 2016, 1:00 pm EST:  Here are the updated charts, including the LT weekly and monthly charts, as of the close Jan 8th.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 1-8-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 1-8-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 1-8-15

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 1-8-15

SP-500 weekly chart (EOD):

PUG SP-500 weekly EOD 1-8-15

SP-500 monthly chart (EOD):

PUG SP-500 monthly EOD 1-8-15

12:10 pm EST:  The SP-500 has entered into the bottoming zone for both wave count in the 1926 pivot to 1884 pivot area.    The SPX vs NYMO vs VIX Bollinger Band chart has triggered a step 1 SPX Buy signal for both the SPX and VIX.  The NYMO is also setting up a potential large +Div with the mid-December SPX 1993 low.


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 [1] wave is underway headed for the 1884/1905 pivot area.   This first minor 1 of major [1] wave completed at the 2019 pivot.   The minor 2 of major [1] 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 completed at 1939, where (3)=1.38(1) at 1943.  Wave (4) of minor 3 bounced 23% to 1960, so far.  The drop to 1933 this morning could have complete minor 3 of it may need to explore down to the 1910 target.  There should be minor 4 consolidation and then a final minor 5 of major [1] low above the 1884 pivot.  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 [1] completed at 2116 and now major [2] is completing as a minor W-X-Y Double Zig-Zag that should retrace 78%/88% to 1925/1901.   The alternate blue count remains valid as long the major [2] 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 1956/12926 pivot to complete P4-C1.  Should the 1956 pivot break, then this P4-C1 triangle count is the preferred alternate blue count.

Have a great weekend !

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=66d2aa5f-459f-41d6-8ee5-b62e4c7befc6

SP-500 15-min chart (mid-day):

PUG SP-500 15-min Chart 1-8-16

SP-500 60-min chart (mid-day):

PUG SP-500 60-min Chart 1-8-16

SP-500 4-hr chart (mid-day):

PUG SP-500 4-hr Chart 1-8-16

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