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December 22nd, 2011: Update 1 – Mid-day

Posted by pugsma on December 22, 2011

1:05 pm EST:   Primary count is right on track for a the 1257 price target and maybe even the 1267 target, were v=iii.

And here some bull eye-candy going into to Christmas.  What if 1243 was wave (1) of minor 3 and 1229 wave (2)?  This means that wave (3) of minor 3 is already underway with a first target of 1295, were (3)=1.62*(1).   This will be the new alternate (blue) count.   And I’ll make the bearish B-wave of 2nd ZZ for major [2] a very low probability 2nd alternate (red) count on the 60-min chart that will be killed with a move above 1267.

SP-500 5-min chart (12:56 pm):

SP-500 60-min chart (1:17 pm):

 

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