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Dec 28th, 2010: Update 2 – Morning

Posted by pugsma on December 28, 2010

11:20 am EST:  SP-500 cash market hit a new recovery high of 1259.88 this early morning.

For my primary count the first target of 1260 for v-(5) of 5-[1]-P3 has been hit at 1259.88.  So technically speaking major degree wave [2]-P3 could be underway and is headed to the 1165 area (38% retrace) by late January 2011.  But until we break below the 1243.75 wave i-(5) high there is no confirmation, so we must be cautious that a higher, high is yet to come.  There is still a wave v=i targtet of 1262 for this count.

For the alternate count the wave b-ii-(5) flat target of 1260 has been hit.  The expanded flat b-ii-(5) target is 1262, so b-ii-(5) could still creep higher before the wave c-ii-(5) correction to the 1245/1250 area.  A solid break below the 1257 pivot support, would like mean the b-wave is over and the c-wave has begun.  I’m looking for the ii-(5) to complete this week and wave iii-(5) headed 1295 to begin with the new Year on Monday Jan 3rd.

Again, for some Premium Service house keeping.   Some current subscribers have not renewed or cancelled for 2011.  I need to wrap this up before Friday Dec 31st, so please let me know one way or the other.  You can renew your subscription via this link:  http://pugsma.com/pug-premium-sign-up/   I’m only accepting annual subscribers ($240)  and first quarter subscribers ($75) until Friday Dec 31st, no exceptions will be made.   The eStore link for those two options will be disabled after Dec 31st.  After Dec 31st, the next sign-up period will be at the end of March for the second quarter of 2011.  I’m doing subscriptions this way in the future in order to cut down on administrative work during each quarter.  The sign-up periods will be the two weeks before each quarter.  Thanks.

SP-500 5-min chart real-time link: http://www.freestockcharts.com?emailChartID=b2658569-f930-4332-b644-d5ed35c01228

SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=f2eb5787-057b-4463-b9f4-71e2447f2b6e

SP-500 5-min chart (11:03 am):

SP-500 15-min chart (11:03 am):

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