April 4th, 2016: SP-500 EOD Update
Posted by pugsma on April 4, 2016
4:50 pm EST: With today’s SPX price drop below 2065. there is a potential top at 2075 for wave v-(5) of minor C of major -P2-C2. Need a SPX price break below 2043 and then 2022 to confirm.
SPX price is continuing to look for a major -PC-C2 termination point between the 2075 and 2094 area. There is a lot of confluence in this 2079 to 2094 along with a key daily chart down sloping trend-line. The 88% Fibonacci retrace target is at 2079. The minor C=1.38*A target is 2080. Within the minor C wave, the wave v=i target is 2089 and the wave (5)=(1) target is 2094. The primary (red) count remains valid for major -PC-C2 wave termination below the PB-C2 high at 2116.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
SP-500 daily chart (EOD):
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