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October 15th, 2012: Update 1 – EOD

Posted by pugsma on October 15, 2012

6:20 pm EST:  Primary count is that major [4]-P3-C3 ended at 1426 on Friday and wave (1) of minor 1 of major [5]-P3-C3 began.  Today’s move to 1441 looks like 5 minuette degree waves up to end of wave (1), so we might see a small consolidation for wave (2) above 1434 before a move up to 1458, where (3)=1.62*(1).  Ultimately minor 1 of major [5] should test the old high area of 1470 to 1475.

For the alternate (blue) count wave (a) of minor Y of major [4]-P3-C3 completed at 1426 on Friday and wave (b) up to a 50% retrace of 1449 began.  The move up to 1441 looks wave a-(b) and there should be a small wave b-(b) consolidation above 1434 before the move up to 1449 to complete c-(b).  From there a drop to down to 1405 should be for wave (c) of minor Y of major [4].

SP-500 15-min chart (EOD):

SP-500 60-min chart (EOD):

SP-500 4-hr chart (EOD):

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