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January 9th, 2013: EOD Update

Posted by pugsma on January 9, 2013

5:00 pm EST:   The primary count is that b-(2) of minor 3 of major [3]-P3-C3 ended to at 1465 and wave c-(2) is now headed down to the 1440 pivot support area (1433-1447).  The 38% retrace target is at 1441 and the 50% retrace target is at 1433.

I have modified the alternate (blue) count wave iv-(1) into a contracting triangle that completed the e-iv-(1) wave late today at 1459.   The typical triangle target for v-(1) would be  1460 + 16 => 1476 and the maximum target I at 1468 + 16 => 1484.  After this nominal new high for wave (1) of minor 3, there will still be a significant wave (2) of minor 3 retrace toward the 1440 pivot.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 1-9-13

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 1-9-13

The primary count for AAPL looks to be in serious trouble here at 515.  A break below the minor 2 low of 505 will invalidate the primary count and confirm the alternate count.  The alternate (blue) alternate count looks more likely now and should be in the final (c) of minor 5 of major [C]-P4 wave headed for a (c)=(a) target of 492 with a maximum ED low of 461.

AAPL 15-min (EOD):

PUG SP-AAPL 15-min EOD 1-9-13

AAPL 60-min (EOD):

PUG SP-AAPL 60-min EOD 1-9-13

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