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June 13th, 2011: Update 2 – Afternoon

Posted by pugsma on June 13, 2011

2:40 pm EST:   The SP-500 has chosen to stay in the slow lane of the yellow trend-lines.   For the primary count (white), there is a possible triangle or flat for wave (4) of minor 5-[C]-P4.    The triangle measures to the same 1250 to 1257 target area to complete 5-[C]-P4.    For the alternate count (blue) we have another potential end of 5-[C]-P4 at 1265.64.  However we’ll need to see a break above 1279.52 and then a move the upper yellow channel line at about 1282 EOD.

SP-500 15-min chart (2:34 pm):

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