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December 17th, 2012: EOD Update

Posted by pugsma on December 17, 2012

5:55 pm EST:  As a free bonus gift for AAPL lovers, here are the updated 15-min and 60-min charts.  The 60-min chart show a classic positive divergence on the MCAD at today’s 501 low.

AAPL 15-min chart (EOD):

PUG AAPL 15-min chart EOD 12-17-12

AAPL 60-min chart (EOD):

PUG AAPL 60-min chart EOD 12-17-12

5:20 pm EST:   For the primary count minute (2) of minor 3 of major [3]-P3-C3 ended on Friday at 1412.  Today’s move up to 1431 is all or most of wave i-(3) or minor 3.  Basis wave i-(3) ending at 1431 today, we could see a 50% wave ii-(3) pull-back to 1421, before wave iii-(3) ends for a 1471 target, where iii=2.62*i.   Note the minor 3 first target area if 1478, where M3=1.62*M1.

For the alternate (blue) count, the move up from 1412 to 1431 is a wave (b) of minor 2 of major [3]-P3-C3 that has already retraced over 62% of wave (a).  Thus, it brings up the possibility of minor 2 flat (b)=(a) or expanded flat (b)=1.23(a).  The wave (b) flat target would be 1439 and the wave (b) expanded flat target is 1445.  Thus, the alternate (blue) count remains a valid option as long at the SP-500 does not break above 1445.  If it does, then it would confirm the primary count above.

Support is the 1422-1427 band and resistance in the 1440 pivot range.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 12-17-12

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 12-17-12

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 12-17-12

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 12-17-12

SP-500 weekly chart (EOD):

PUG SP-500 weekly chart EOD 12-17-12

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