August 11th, 2016: SP-500 EOD Update
Posted by pugsma on August 11, 2016
5:10 pm EST: The primary (green) wave count is that wave (2) of minor 5 of major -P5-C1 is complete at 2172. Wave (3) of minor 5 should be underway and move above 2200. The (3)=1.38*(1) target is 2227. Looking for major  to terminate near the =0.78*=2235 target. The P5=0.62*P1 target is at 2246. 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 -P5-C1 is complete at 2172. Wave (3) of minor 3 should be underway and move above 2300. The minor 3 = 1.62*minor 1 target is 2388. The major  target is at 1.62* = 2496. The P5=P1 target is 2514 to complete the Cycle 1 wave. The alternate blue count as labeled remains valid above 2148.
The alternate (red) wave count is that major -P5-C1 is topping in the 2188 to 2214 area and the LT (long-term) Cycle (C2) wave down towards a 50% Fibonacci retrace of C1 at 1428 is about to get underway.
Have a super weekend !!!
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
SP-500 weekly chart:
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