June 1st, 2016: SP-500 EOD Update
Posted by pugsma on June 1, 2016
2:50 pm EST: The primary (red) count is that wave (2) of minor 1 of major [3]-PC-C2 completed at 2103 as an expanded flat wave. Wave (3) of minor 1 should now be underway headed for the (3)=1.62*(1) target of 1986. Wave minor 1 should reach the 1956 pivot area. The primary (red) count remains valid for wave (2) below 2111.
The alternate (blue) count is that Cycle 1 of Super Cycle V (C1-SCV) is on its last gasp to a marginal new All-Time High (ATH). For this wave count, P4-C1 completed in February 2016 at 1812 and the final P5-C1 wave up has been underway ever since then. P5 waves are typically quite weak and short in duration, so I’d expect P5-C1 to only slightly exceed 2135 (i.e. Initial Target of P5=0.5*P1=2162) and complete within the next month. The move up off 1812 completed major [1] at 1947, major [2] at 1891, major [3] at 2111 and major [4] ended at 2026. Basis 2026 as the a major [4] low, the major [5]=[1] target is 2161 for the completion of P5-C1. Within major [5], the minor 1 wave completed at 2103. Minor 2 should correct 38%/50% to 2074/2065, before wave minor 3 breaks out to a new ATH (All-Time High). Note: on a break above 2103, it possible minor 2 ended today at 2085 and minor 3 up is already underway. The alternate (blue) count remains valid for minor 2 above major [4] low of 2026.
Have a great weekend !
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
SP-500 daily chart (EOD):
Sorry, the comment form is closed at this time.
You must be logged in to post a comment.