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August 10th, 2016: SP-500 EOD Update

Posted by pugsma on August 10, 2016

4:40 pm EST:   The SP-500 has retraced nearly 50% of the 40 point move up from 2148 to 2188.

The primary (green) wave count is that wave (2) of minor 5 of major [3]-P5-C1 is complete or nearly complete at 2172.  Wave (3) of minor 5 should get underway and move above 2200.  The primary green count as labeled remains valid above the 2148.

The alternate (blue) wave count is that wave (2) of minor 3 of major [3]-P5-C1 is complete or nearly complete at 2172.   Wave (3) of minor 3 should get underway and move above 2300.  The alternate blue count as labeled remains valid above 2148.

The alternate (red) wave count is that major [5]-P5-C1 topped at 2188 and the LT (long-term) Cycle (C2) wave down towards a 50% Fibonacci retrace of C1 at 1428 is underway.  The alternate red count as labeled remains valid below 2188.

SP-500 15-min chart:

PUG SP-500 15-min EOD 8-10-16

SP-500 60-min chart:

PUG SP-500 60-min EOD 8-10-16

SP-500 4-hr chart:

PUG SP-500 4-hr EOD 8-10-16

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