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August 8th, 2016: SP-500 EOD Update

Posted by pugsma on August 8, 2016

11:30 am EST:  Back in early June I gave the following projections and probabilities for the end of the Primary 5 of Cycle 1 (P5-C1) wave.

P5=0.50*P1 = 2161 (100%)  [Alternate Red Wave Count]

P5=0.62*P1 = 2246 (75%)   [Primary Green Wave Count]

P5=1.00*P1 = 2514 (50%)    [Alternate Blue Wave Count]

So far the 100% probable target of 2161 has been reached and exceeded at 2185 as of today.   The primary count 2246 target is very much within reach over the next several weeks to a couple of months.  And the very bullish upside target of 2514 is still possible and is now slightly more that 50% probable if this major [3] wave can sub-divide.

The details of each of the three potential wave counts are shown on the charts below.

SP-500 15-min chart:

PUG SP-500 15-min 8-8-16

SP-500 60-min chart:

PUG SP-500 60-min 8-8-16

SP-500 4-hr chart:

PUG SP-500 4-hr 8-8-16

SP-500 daily chart:

PUG SP-500 Daily 8-8-16

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