June 6th, 2016: SP-500 EOD Update
Posted by pugsma on June 6, 2016
3:35 pm EST: With the break above SPX 2111 today, the primary wave count has be replaced with the alternate (blue) count.
The primary (green) 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 1810 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 initial move up off 1810 completed major  at 1947, major  at 1891, major  at 2111 and major  ended at 2026. Basis 2026 as the a major  low, the major = target is 2161 for the completion of P5-C1. Within major , the minor 1 wave completed at 2103. Minor 2 retraced to 2085 and now minor 3 is underway headed toward a new ATH (All-Time High). Note: on a break below 2085 minor 2 is still underway and likely headed for the 50% retrace at 2070 . The primary (green) count remains valid for minor 2 above major  low of 2026.
Note: While the P5=0.5*P1 = 2162 is the minimum target for the completion of C1. There are higher Fibonacci targets at P5=0.62*P1 = 2246 and P5=P1 = 2513. Thus the P5 wave count could extend.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
SP-500 daily chart (EOD):
SP-500 weekly chart (EOD):
SP-500 monthly chart (EOD):
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