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January 31st, 2013: EOD Update

Posted by pugsma on January 31, 2013

6:55 pm EST:   Primary count is that wave (4) of minor 3 of  major [3]-P3-C3 is finish up here at 1497 to 1492 and that wave (5) of minor 3 is headed for the 1524 pivot area (i.e. 1517 to 1531).   There is a fib target of 1531, where minor 3 = 1.23*minor 1.   After minor 3 reaches the 1524 pivot area, there will be a minor 4 wave pull-back to the 1500 (23%) to 1481 (38%) area, before wave  minor 5 of major [3]-P3-C3 heads for the 1555 pivot.

The alternate (blue) count is that wave (w) of minor 4 of major [4]-P3-C3 is underway headed for a target area of 1482.  Ultimately I’m looking for minor 4 to test support in the 1483 (23%) to 1467 (38%) region, before minor 5 of major [3]-P3-C3 heads for the 1555 pivot.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 1-31-13

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 1-31-13

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