April 2nd, 2013: EOD Update
Posted by pugsma on April 2, 2013
April 3rd, 11:00 am EST: Here is the SP-500 Daily Chart with Indicators showing the similarity to April 2012.
SP-500 Daily Chart with Indicators (mid-day):
5:15 pm EST: The primary count is that wave (5) of minor 5 of major [3]-P3-C3 is playing out as an ending diagonal. It looks like wave e-(5) needs one more push up above 1573 and less than 1585 maximum to complete. Once complete the SP-500 price will correct very quick back to where the ending diagonal began at 1538 and that will be minor A of major [4]-P3-C3. Ultimately, major [4]-P3-C3 will test the 1524 pivot support. From there major [5]-P3-C3 will begin and head for the P3=P1 target of 1614.
The alternate (blue) count is that major [5]-P3-C3 has been under-way since the 1546 low for major [4]. The current wave count is a wave (3) of minor 3 of major [5], with a target at 1590, where (3)=1.62*(1). Minor 3 should reach 1600, where minor 3 = 1.62*minor 1. Ultimately, major [5]-P3-C3 should reach at least 1614, where P3=P1.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
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