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May 10th, 2016: SP-500 EOD Update

Posted by pugsma on May 10, 2016

6:05 pm EST:   The primary (red) count is that wave (1) of minor 1 of major [3]-PC-C2 completed at 2039 and that wave minute (2) is underway that should retrace 62%/78% to 2084/2095 forming the right shoulder of a head and shoulders top that measures to 2034 – (2111-2034) = 1957.   The wave (3) target is at 1967, where (3)=1.62(1) and the minor 1 target 1956 pivot.   The primary (red) count remains valid below 2111.

The alternate (blue) that the minor 2 of major [C]-PB-C2 low is in place at 2039 and the minor 3 wave up is headed for 2162, where minor 3 = 1.62*minor 1.  Within minor 3, wave (1) is underway headed for 2111: wave i-(1) completed at 2064, wave ii-(1) at 2054 and now wave -(1) is headed for 2094, where iii=1.62*i.   Ultimately PB-C2 should reach the [C]=0.62[A] =2198 to PB=1.23*PA = 2210 target area.  The alternate (blue) count remains valid above 2034.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 5-10-16

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 5-10-16

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 5-10-16

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 5-10-16

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