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February 9th, 2012: Update 1 – Mid-day

Posted by pugsma on February 9, 2012

1:40 pm EST:  Primary count has wave iii-(5) of minor 5 of major [3]-P1-C3 underway headed for th e 1363 pivot area.  And wave v-(5) of minor 5 headed for the 1372 pivot or 1376 IHS target, where (5)=1.62*(1).

Alternate (blue) count, looks like a possible Ending Diagonal (ED) for minute (5) of minor 5 of major [3]-P1-C3.   This ED count for minute (5) of minor 5 should end here very shortly around the 1355 target.

SP-500 5-min chart (1:32 pm EST):

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