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March 19th, 2013: Mid-day/EOD Update

Posted by pugsma on March 19, 2013

6:00 pm EST:  SP-500 daily chart with indicators.  Looking for a test of the rising 34-day EMA (1524) for major [4]-P3-C3 and 100 point rise for major [5]-P3-C3 up to 1614, where P1=P3.   This should be very similar to March-May of 2012.

SP-500 daily chart (EOD):

PUG Sp-500 daily with indicators 3-19-13

1:25 pm EST: Here is the SP-500 wave count update. The primary count is right on track for a minor W of major [4]-P3-C3 move to the target of 1540 to 1535. From this 1535 to 1540 area I’ll be looking for a minor X-wave retrace of about 50% to 1550-1552, before the minor Y drop to the 1515 to 1520 area to complete major [4].

Alternate (blue) count from yesterday was invalidated with the move below 1545 today. But there is still a possibility that the revised alternate (blue) count with wave (4) of minor 5 of major [3]-P3-C3 low at 1540 to 1535. This would lead to a wave (5)=(1) move to 1585 to 1590 to complete [3]-P3-C3.

SP-500 15-min chart (mid-day):

SP-500 15-min chart mid-day 3-19-13

SP-500 60-min chart (mid-day):

SP-500 60-min chart mid-day 3-19-13

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