June 9th, 2016: SP-500 EOD Update
Posted by pugsma on June 9, 2016
4:250pm EST: The primary (green) wave count is that wave (1) of minor 3 of major [5]-P5-C1 peaked at 2119 and wave minute (2) retraced 38% to 2108. Wave minute (3) of minor 5 of major [5] should be underway and will make a new ATH above 2135. The major [5]=[1] target is at 2161 and the P5=0.5*P1 target is at 2162, which is the minimum for completing this P5-C1 wave up. The primary (green) count remains valid above 2085.
The alternate (blue) wave count is that wave minor 1 of major [5]-P5-C1 completed at 2119. Wave minor 2 maybe taking the form of a double zig-zag and should retrace 38%/50% to 2084/2073. Once wave minor 2 completes, wave minor 3 should target 2224, where minor 3 = 1.62*minor 1. The P5=0.62*P1 target is at 2246. The alternate (blue) count remains valid above 2026.
Have a wonderful weekend !!!
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
SP-500 daily chart (EOD):
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