July 20th, 2016: SP-500 EOD Update
Posted by pugsma on July 20, 2016
5:10 pm EST: The SP-500 price continues to very close follow the E-wave primary count shown the 15-min chart. Wave (5) of minor 3 of major -P5-C1 is underway from 2156 headed for a 2191 first target area, where minor 3=1. There should then be a 23% Fibonacci retrace to 2164 for the minor 4 wave before minor 5 of major  heads to the 2235 target area. The first P5-C1 wave target completion area is at 2246, where P5=0.62*P1. However there is a much higher target at P5=P1 = 2514. In this more bullish LT scenario, both minor 3 of major  and major  itself would sub-divide and extended much higher.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
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