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January 11th, 2016: SP-500 EOD Update

Posted by pugsma on January 11, 2016

4:45 pm EST:  The SP-500 has entered into the bottoming zone for both wave count in the 1905 pivot to 1884 pivot area.    The SPX vs NYMO vs VIX Bollinger Band chart has triggered a step 2 SPX Buy signal for the VIX.  The NYMO is also setting up a potential large +Div with the mid-December SPX 1993 low.

http://stockcharts.com/h-sc/ui?s=%24NYAD&p=D&yr=0&mn=6&dy=0&id=p32152966307&a=269536931&r=1450045167343&cmd=print

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 may have completed today at 1901, where minor 3 = 2.0*minor 1.    There should be minor 4 consolidation to the 23%/38% retrace of 1948/1978 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 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 [1] completed at 2116 and now major [2] is completing as a minor W-X-Y Double Zig-Zag that has retraced 88% to 1901.   The alternate blue count remains valid as long the major [2] wave remains above the Primary 4 (P4) of 1872.  Finally there is also 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 1956/1926 pivot to complete P4-C1.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 1-11-16

 

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 1-11-16

 

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 1-11-16

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 1-11-16

SP-500 weekly chart (EOD):

PUG SP-500 weekly EOD 1-11-16

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