Dec 3rd, 2010: Update 4 – EOD
Posted by pugsma on December 3, 2010
10:50 am 12-4-10: From now until the end of 2010, I’m offering a “Holiday Special ” Premium Service: The balance of December at a discounted rate of $15 (half price to the $30/month fee). E-mail me at pu_gridiron@yahoo.com to get started today. Please use this holdiay special in place of the monthy, quarterly, or annual scriptions. Toward the end of December 2010, you can sign up for the longer term deals. FYI for 2011, I’m introducing an annual subscripton rate of $240 ($20 per month, a $120 savings over the $30 monthly fee). The Monthly fee of $30 and Quarterly fee of $75 are unchanged. Thanks.
The Bear Days are Over. Enjoy this music video by Florence and the Machine, “The Dog Days are Over”.
4:40 pm EST: We got some clarity on the count at the end of today. The SP-500 reached a new near term high of 1225.57 just before the close. Minute degree wave (1) wanted a higher price target. Today’s consolidation above the 1219 pivot was wave iv-(1) and wave v-(1) began late in the day. If wave v=i, then we can expect a target of 1233 on Monday. There is pivot resistance at 1229 and the top of the channel is near 1233/1235 on Monday. After completion of wave (1), I’m looking for a pull back for wave (2) towards targets of 1197/1202 or a 62%/50% retrace of wave (1). From there I have a wave (3) target of 1284, where wave (3)=1.62*1. The final price target for the completion of minor wave 5-[1]-P3 is 1291, where minor W5=W1.
For now I have removed the minor wave 4 flat alternate count that has a re-test of the 1173 low. The odds of this count are very low at this point. The next time the SP-500 revisits that area will be during major wave [2]-P3 that comes after we find the top of major [1]-P3 near 1291.
Stocks up! Boiler Up! Best to your weekend. 🙂
SP-500 5-min chart (EOD):
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 Daily Chart (EOD):
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