December 13th, 2011: Update 2 – EOD
Posted by pugsma on December 13, 2011
7:30 pm EST: I have switched the primary count back to the double Zig-Zag for minor 2 of major [3]-P1-C3 off the Dec 5th 1266.73 high. This double ZZ count fits this over-lapping move lower to the “T”. The SP-500 has either finished the second ZZ, (y) at the perfect (c)=(a) target of 1219 or it has a little more work to be done to the down side 50% retrace of minor 1 target of 1213.
An alternate (blue) count variant to the primary count would be that the (y) wave of minor 2 of the second ZZ will extend to the (c)=1.62*(a) target of 1200, which is the 62% retrace of minor 1.
Support is at the 1219 pivot and then the 1187 pivot. Resistance is at 1229 pivot and then the 1245 pivot.
SP-500 5-min chart (EOD):
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
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