PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

January 28th, 2013: EOD Update

Posted by pugsma on January 28, 2013

6:00 pm EST:   For the SP-500 it looks look a small wave (4) triangle with a wave (5) triangle target of 1503 + 14 => 1517.  There is also the minor 3 = 1.23*minor 1 target at 1531.  Once minor 3 completes in the 1524 pivot resitance area, then I’m looking for a minor 4 retrace to the 1481 area to be followed by a minor 5 of major [3]-P3-C3  move to the target of 1551, where [3]=[1].

Support is at 1475 and resistance at the 1524 pivot area.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 1-28-13

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 1-28-13

GLD:  For the primary count wave (2) of minor 1 of major [3]-P5 is nearly complete at the 159.15 target.  For the alternate (blue) count a break of 158.39 will lead to a wave [2]-P5 drop to the 155 area.

GLD 60-min chart (EOD):

PUG GLD 60-min EOD 1-28-13

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