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January 12th, 2012: Update 2 – EOD

Posted by pugsma on January 12, 2012

4:30 pm EST:  Another day of nothing in terms of resolution of the counts.  However, the SP-500 is now is a position were it must decide a make a decisive move up to 1315 (primary) or down to 1278 (alternate) very soon.  The key levels to watch are still 1301.24 up and 1283.05 down. 

Support is at the 1291 pivot and then the 1257 pivot.  Resistance is a the 1303 pivot and then the 1315 pivot.

SP-500 5-min chart (EOD):

SP-500 15-min chart (EOD):

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