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April 3rd, 2013: EOD Update

Posted by pugsma on April 3, 2013

4:50 pm EST:    Primary count is that minor A of major [4]-P3-C3 completed at 1550 today with 5 clear waved down from 1574.  I’m now looking for a 50% bounce to about 1562 for minor B and the a drop 1523, where C=1.62*A to complete major [4]-P3-C3.

For the alternate (blue) count, we a 3-3-5 expanded flat for minor 2 of major [5]-P3-C3 off the minor 1 high of 1571.    This alternate (blue) count remains valid for minor 2 above 1546.22.   The minor 3 target is at 1595, where minor 3 = 1.62*minor 1.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 4-3-13

4:40 pm EST:  Updated AAPL 60-min chart.

AAPL 60-min chart (EOD):

PUG APPL 60-min EOD 4-3-13

4:30 pm EST:  Updated GLD charts.  The 150.84 low was broken today (149.92 intra-day) but not the more critical 148.27 level.  So the primary count for the P4 triangle is still valid.   A break of 148.27 intra-day will invalidate the primary count and confirm the alternate (blue) count.  Also, per the alternate (blue) count I had a target set yesterday of 150 for wave (1) of minor C of major [Y]-P4.    I’m now expecting a bounce of at least 50% to 153.0 for wave (2) of the alternate (blue) count.  Ultimately, wave (3) of minor C will target the 142.5 area and wave (5) of minor C the 136 area.

GLD 4-hr chart (EOD):

PUG GLD 4-hr EOD 4-3-13

GLD Weekly chart (EOD):

PUG GLD weekly EOD 4-3-13

3:25 pm EST:  Primary count is that major [3]-P3-C3 completed at 1574 as an ending diagonal.  Minor A of major [4]-P3-C3 is underway with a target area of 1538 to 1546, which is where the wave (5) of minor 5 of major [3]-P3-C3 ending diagonal began.  The initial move down to 1565.55 was wave (1) and the move to 1552.10 was wave (3) of minor A.    The SPX price is currently in a wave (4) bounce, but should stay below 1564.55 and then drop below 1552.10 later today or early tomorrow to complete minor A in the 1546 to 1538 area.  From there the SPX price should bounce higher to the 1552 to 1556 area for minor B, before minor C heads for the 1524 pivot area.  The 23% retrace for target for major [4] is at 1521.

The alternate (blue) count is that minor 1 of major [5]-P3-C3 completed at 1574 as leading diagonal.  Today drop to 1552.10 (thus far) is minor 2 of major [5], which will remain valid above 1546.22.   Assuming 1552.10 holds as the end of minor 2, then the minor 3 target is at 1597, where minor 3 = 1.62*minor 1.  Ultimately, major [5]-P3-C3 should reach at least the 1614 target, where P3=P1.

SP-500 15-min chart (3:00 pm EST):

PUG SP-500 15-min after 4-3-13

SP-500 60-min chart (3:00 pm EST):

PUG SP-500 60-min after 4-3-13

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