PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

November 12th, 2012: Update 1 – EOD

Posted by pugsma on November 12, 2012

5:30 pm EST:  Updated 15-min chart.

SP-500 15-min chart (EOD):

4:25 pm EST:   Absolutely no change in the primar and alternate wave count from Friday’s EOD update.  Today was an inside bar on SPX daily chart on low volume, which is typically bullish.  This could signal the major [2]-P3-C3 down-trend is over at 1373 and major [3]-P3-C3 wave up towards 1579 ([5]=[1]) is about to begin in earnest.

SP-500 60-min chart (EOD):

SP-500 4-hr chart (EOD):

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