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April 17th, 2013: Mid-day/EOD Update

Posted by pugsma on April 17, 2013

12:35 pm EST:  Primary count is that major [A]-P4-C3 is headed for the 1540 to 1538 target.  This wave down from 1575 is minor 5 of major [A].  It looks like waves minute (1)-(2)-(3) and (4) of minor 5 are complete so far today.  However for wave (3) of minor 5 not to be the shortest wave (5) of minor 5 must end above 1534.  After wave [A]-P4 completes, there should be a strong wave major [B] bounce to the 1576 resistance to complete the right shoulder of the head and shoulders topping pattern.  After [B], wave major [C] drop toward the head and shoulders target of 1483 and the 38% target of 1472.

The alternate (blue) count is that wave [3]-P3-C3 ended at 1597 and this is the major [4]-P3-C3 wave down to a target of 1530, where C=A.  After major [4] complete there will be one final push up for major [5]-P3-C3 to the P3=P1 target of 1614.

SP-500 15-min chart (mid-day):

PUG SP-500 15-min mid-day 4-17-13

SP-500 60-min chart (mid-day):

PUG SP-500 60-min mid-day 4-17-13

SP-500 4-hr chart (mid-day):

PUG SP-500 4-hr mid-day 4-17-13

This entry was posted on April 17, 2013 at 12:35 pm and is filed under SP-500. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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