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:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
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