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Dec 21st, 2010: Update 4 – EOD – Are We There Yet?

Posted by pugsma on December 21, 2010

For any new premium subscriber, I’m offering the final 2 weeks of December for free if you sign up for a 2011 quarterly ($75) or annual ($240) subscription.  Follow this link to sign-up.  Thanks.

5:05 pm EST:  Probably not, ut we could be very close.  My first target for the completion of minute (5) of minor 5 of major [1] of Primary 3 (i.e. (5)-5-[1]-P3) is 1260, where minute (5)=(1) and we hit 1256 today.   However, minute (3) was almost precisely 2.62*(1).   That means the three possible E-wave targets for the completion of minute (5) are:  (5)=(1)=>1260, (5)=1.62*(1) =>1277 and (5)=2.62*(1) => 1304.  Also minor wave 5 = minor wave 1 at 1291.  So if the 1257 pivot resistance does not hold it, then look for wave (5) extension targets of 1277, 1291, and 1304.  Of course I think the 1315 pivot should certainly stop the major [1]-P3 advance.  We should see major [1]-P3 wrap up some time between Christmas and Jan 12-15th, 2011 at one of these targets.  And from there the major [2]-P3 correction will likely be a 38% retrace of major [1]-P3.  I have targets of 1135 to 1185 for [2]-P3 going into Feb 2011, depending on where and when major [1]-P3 ends.

SP-500 5-min chart (EOD):

 SP-500 15-min chart (EOD):

SP-500 60-min chart (EOD):

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