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October 11th, 2011: Update 1 – Morning

Posted by pugsma on October 11, 2011

12:30 pm EST:  Here is a weekly SP-500 Candle Chart.  Notice how the SP-500 has held it’s 200-week SMA.  It’s very possible that Cycle 2 of Super Cycle V ended at on Oct 4th, 2011 at 1075.  This would imply that Cycle 3 of SC-V is underway and headed for new highs above 1575 over the next 3 to 5 years.  This will become the new alternate (blue) count to the primary (red) count shown on my charts.

SP-500 Weekly Candle Chart (10-11-11):

11:05 am EST:  In a very interesting development the DJIA Point and Figure Chart has now flipped bullish and is forecasting a new high of 13,350, well above the May 2011 high of 12,800.  And there is enough evidence on the DJIA Daily Candle Chart to support such and run higher should it materialize.

DJIA Point and Figure Chart (10-11-11):

DJIA Daily Candle Chart (10-11-11):

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