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May 2nd, 2016: SP-500 EOD Update

Posted by pugsma on May 2, 2016

5:00 pm EST:   The primary (red) count is that wave (3) of minor 1 of major [3]-PC-C2 is underway with target of 2011, where (3) = 2.62*(1).   Within wave (3), wave i-(3) completed at 2053 and wave ii-(3) is targeting the 62%/78% retrace of 2082/2089.   The minor 1 wave should reach the 1991/1956 pivot area over the next couple of weeks.   The primary (red) count is valid below the wave (2) of minor 1 high at 2100.

The alternate (blue) count is that wave minor 2 of major [C]-PB-C2 is complete at the 78% retrace of 2051.   The minor 3 of major [C] wave will make a new All-Time High (ATH) above 2135.  Minor 3 = 1.62*minor 1 = 2177.  The PB target is at 2210, where PB=1.23*PA, for the C2 wave expanded flat.   The alternate (blue) count remains valid above the major [B]-PB low at 2034.

SP-500 15-min chart (EOD):

PUG SPX 15-min EOD 5-2-16

 

SP-500 60-min chart (EOD):

PUG SPX 60-min EOD 5-2-16

SP-500 4-hr chart (EOD):

PUG SPX 4-hr EOD 5-2-16

SP-500 daily chart (EOD):

PUG SPX daily EOD 5-2-16

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