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Sept 22nd, 2010: Update 4 – EOD

Posted by pugsma on September 22, 2010

11:00 pm EST: 5-min and 60-min chart updates added.

6:35 pm EST:  Today’s wave 4 of v-(1) correction down to 1131.58 held above the wave 1 of v-(1) high of 1127.36 for the alternate count (in blue).  This sets up the potential for a new high above 1148.58 for wave 5 of v-(1).   My target is 1154, where wave 5=1.

The primary count is that the 17 point drop today from yesterday’s 1148.58 high was wave a-(2).  I’m expecting wave c-(2) to be 1.62*a or 28 points.  If the b-(2) wave ended today just below the 1137 pivot, then c-(2) should reach the 1107 pivot support.

SP-500 5-min chart (EOD):

SP-500 15-min chart (EOD):

SP-500 60-min chart (EOD):

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