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April 12th, 2013: EOD Update

Posted by pugsma on April 12, 2013

5:30 pm EST:   SP-500 Daily Chart with Key Indicators Negative Divegence says the SP-500 is very likely headed for a 100 to 150 point correction in the coming few months.

PUG SP-500 Daily with Indicators EOD 4-12-13

4:35 pm EST: Minor 4 of major [5]-P3-C3 looks to be complete at 1480, which is just above the 38% retrace target of 1578 and the key support at 1576. Or it possible that minor 4 will play-out as a triangle where the drop to 1580 today was wave (a) of minor 4. In either case there is likely just one more high above 1597 for minor 5 of major [5]-P3-C3. The targets are the Inverted Head and Shoulders measured move of 1608 and the P3=P1 target of 1614.

Once P3-C3 completes here between 1608 and 1614, I will be looking for major [A]-P4-C3 to drop down the 1540 support area. Which is the neckline of the large Head and Shoulders topping pattern that will usher in the P4-C3 low at the 1475 support sometime around the middle of summer 2013.

Have a great weekend !

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 4-12-13

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 4-12-13

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 4-12-13

SP-500 Daily chart (EOD):

PUG SP-500 Daily EOD 4-12-13

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