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April 1st, 2013: SP-500, AAPL and GLD Counts

Posted by pugsma on March 31, 2013

10:50 am EST:  AAPL price needs to quickly reverse from this 435 area to keep the primary count alive.  There is potential Inverse Head and Shoulder (IHS) pattern formation with target of 528.  On a break below 419, the alternate (blue) count takes over with a move to at least 396.

AAPL 60-min chart (10:46 am EST):

PUG APPL 60-min chart morn 4-1-13

10:30 am EST:   Here is the updated 15-min chart.  For confirmation of the primary count the SP-500 price must first break the rising wedge support at 1558, then the wave ii-(5) low of 1551.90.

SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=a445a5d6-c5ce-460e-a585-82286f447cd7

SP-500 15-min chart (10:21 am EST):

PUG SP-500 15-min chart morn 4-1-13

The primary count is that wave v-(5) of minor 5 of major [3]-P3-C3 completed today at 1570.  Major [4]-P3-C3 should now retrace about 23% of major [3] to a 1518 target area.  It will take a break below 1563.95 to begin to confirm the top of major [3]-P3-C3 is in place and ultimately a break below 1546.22 is required for full confirmation.

The alternate (blue) count is that wave iii-(5) of minor 5 of major [3]-P3-C3 is still unfolding headed for a 1581 target, where iii=1.62*i.  Ultimately wave v-(5) should reach at least 1586, where (5)=(1) or 1590, where minor 5=1.  Also the ascending triangle measured move target is at 1590.

SP-500 15-min chart (EOD):

sp-500-15-min-chart-eod-3-28-13

AAPL 60-min chart (EOD):

aapl-60-min-chart-mid-3-28-13

GLD 60-min GLD (EOD):

gld-60-min-chart-mid-3-28-131

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