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March 20th, 2013: EOD Update

Posted by pugsma on March 20, 2013

3:55 pm EST:   The move up above 1552 today eliminated the double ZZ primary count for major [4]-P3-C3.  However there are several other variants for the primary count for major [4], like a simple flat (minor B ends near 1564 and then a drop to 1538 to complete minor C), an expanded flat (minor B reach 1564 to 1570 and then a drop to 1525 to 1531 for minor C), or even a triangle that stays range bound between 1538 adn 1564 for another week.

And of course the alternate (blue) is still valid that has major [3]-P3-C3 continuing on up to a 1578 to 1590 target area before we see the real major [4]-P3-C3 correction.

It will take time and more waves to sort it all out.

SP-500 15-min chart (EOD):

SP-500 15-min chart EOD 3-20-13

SP-500 60-min chart (EOD):

SP-500 60-min chart EOD 3-20-13

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