February 25th, 2016: SP-500 EOD Update
Posted by pugsma on February 25, 2016
1:10 pm EST: The primary (red) count is that major -PC-C2 wave is playing out a Zig-Zag off the major  low of 1810. The typical major  targets are the 62%/78% Fibonacci retrace at 2000/2049. This major  wave will need to flip the weekly AAII Sentiment to more bullish than bearish before the major  wave down can begin. The minor A of major  wave completed at 1947. The minor B wave likely completed at 1891, which was near the 38% retrace of 1895. The minor C of major  wave is underway and should target 2028, where C=A. There is however a double bottom (1810) maximum target at 2084 on break above 1947. Once the major  wave completes, the strongest wave major  of PC will be underway headed below 1810 towards the 1600 level. Ultimately PC-C2 should target the 1500-1600 area some time in late summer to early fall 2016, as shown on the weekly and monthly charts below. The primary (red) count remains valid for major  below the PB-C2 high of 2116.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
SP-500 weekly chart:
SP-500 monthly chart:
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