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Jan 12th, 2011: Update 3 – EOD

Posted by pugsma on January 12, 2011

Annual-2011 and  Quarter 1-2011 Subscription sign-up is officially closed.  The next sign-up period for Quarter 2-2011 is March 21st-31st, 2011.  If you missed the sign-up and still want to get in,  I will do a few manual sign-ups through Sunday Jan 16th, 2011.  Send me an e-mail to pu_gridiron@yahoo.com and request a payment link for either an Annual or Q1 subsciption.

4:45 pm EST:  Today went pretty much as anticipated by the primary count.  Wave 3-iii-(5) hit 1286.70 and there was a wave 4-iii-(5) pull-back to 1282.95.   Like I have been showing the past couple of days, I have the wave iii-(5) target at 1288, where iii=2.62*i.   The SP-500 should hit this level early tomorrow.   I’m looking for a wave iv-(5) retrace of about 23% to the 1282 level by Friday.   Then next Tues/Wed Jan 19th/20th, I’m looking for the wave v-(5) of 5-[1]-P3 to top out around 1290 to 1292.    For major degree wave [1]-P3, Minor wave 5 = Minor 1 at 1291 and it look like this will be the final target for this wonderful nearly 7 month bull run of the 1011 Primary degree wave 2 (P2) low.

There of course could be some more upside surprise that clears the 1291 pivot and heads toward the 1315 pivot.  We’ll know this tomorrow if wave 5-iii-(5) decides it wants to extend beyound 1288.   January OPEX is next Friday Jan 21st could mean that the SP-500 gets pinned up here near the 1291 pivot or even the 1315 pivot.

SP-500 5-min chart (EOD):

SP-500 15-min chart (EOD):

SP-500 60-min chart (EOD):

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