July 11th, 2016: SP-500 Update
Posted by pugsma on July 11, 2016
10:55 am EST: The SP-500 price made a new all-time high above 2135 and confirmed the primary wave count P5-C1.
The primary (green) wave count is that major [2]-P5-C1 bottomed at 1992 and that major [3]-P5-C1 up to new all-time highs is underway. Minor 1 of major [3] completed at 2109 and minor 2 retraced to 2074. The minor 3 of major [3] wave is headed to new all-time highs above 2135. Within minor 3, wave (1) reached 2109, wave (2) dropped to 2089 and now wave (3) of minor 3 is underway headed for 2181, where (3)=2.62(1). The initial major [3] target is at 2185, where [3]=0.62[1], however there are much higher targets are [3]=[1] = 2303 and [3]=1.62[1] = 2495. The initial P5-C1 target is 2246, where P5=0.62*P1, however there is a much higher target at 2514, where P5=P1. The primary wave count remains valid above the 1992 major [2]-P5 low.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
SP-500 weekly chart:
SP-500 month chart:
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