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Dec 2nd, 2010: Update 3 – Afternoon

Posted by pugsma on December 2, 2010

3:15 pm EST:  Updated 5-min chart.  My 1221/1221 target as hit for the completion of minute wave (1).  Retrace targets for minute wave (2) is 1191/1197.  Possible minuette wave iv pull-back target is 23% to 1213 and then a run up for v-(1) 1230, v=i, see blue labels.  This would also coincide with the second altenate count (red) for a (b) wave test of the 1227 high and then a (c) wave drop to 1173 in the complete of a large flat.

SP-500 5-min chart real-time link:  http://www.freestockcharts.com?emailChartID=495b8f24-78cf-4568-b041-7e7ce6b02dc6

SP-500 5-min chart (3:10 pm):

1:55 pm EST:  Holding at the 1219 pivot resistance.   Let’s see if this is it for minute v-(1) or of if it just the end of iii-(1), at the iii=2.62*i target of 1222.  If it’s just iii-(1), then we could see a run to the 1229 pivot resistance tomorrow to complete minute (1), see blue labels.

SP-500 15-min chart (1:50 pm):

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