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December 4th, 2012: EOD Update

Posted by pugsma on December 4, 2012

10:35 pm EST:  I found a little time after business meetings and a late dinner tonight to look at the SP-500.  Today’s price action was just as predicted from yesterday’s EOD update.

The primary count is that wave (2) of minor 3 of major [3]-P3-C3 ended to at 1404.  I’m now expecting wave (3) of minor 3 head towards the 1463 target, where (3)=1.62(1).

The alternate (blue) count is that wave (a) of minor 2 of major [3]-P3-C3 ended today at 1404 and now I’m looking for a wave (b) bounce of about a 50% retrace to 1414, before wave (c) of minor 2 reaches at least the 1393 or the 38% retrace target, where (c)=(a).  And there are deeper retrace targets at 1382, where (c)=1.62(a) or the 50% retrace at 1384.

SP-500 15-min chart (EOD):

PUG SP-500 15-min 12-4-12

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