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May 5th, 2016: SP-500 EOD Update

Posted by pugsma on May 5, 2016

4:15 pm EST:   It’s a key time now at the 2046 pivot support as large move (+/- 100 points) is due in the either direction:  primary count down or alternate count up.

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) retraced 62% to 2083.  Wave iii-(3) down is now underway, with a target at 2017, where iii=1.62*i.   The minor 1 wave should reach the 1991/1956 pivot area over the next week or two.   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 88% retrace of 2046.   The minor 3 of major [C] wave will make a new All-Time High (ATH) above 2135.  Minor 3 = 1.62*minor 1 = 2171.   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 SP-500 15-min EOD 5-5-16

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 5-5-16

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 5-5-16

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 5-5-16

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