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April 22nd, 2013: EOD Update

Posted by pugsma on April 22, 2013

5:40 pm EST:  The primary count is that minor A of major [B]-P4-C3 completed at 1555 on Friday, minor B of major [B] completed at 1548 today as an expanded flat and minor C of major [B] is near completion today at 1565.  The targets for the completion of major [B]-P4 are at 1567 (50% retrace) to 1574 (62% retrace).  Once major [B] completes, then major [C]-P4 will drop below 1500 to the 1475 target area, which is the 38% retrace target.

The alternate (blue) count is that minor 1 of major [5]-P3-C3 completed at 1555, minor 2 completed at 1548 and now minor 3 is underway head for a new high above 1597.  The first target area for minor 3 is at 1598, where minor 3 = 2.62*minor 1.  Ultimately P3-C3 should reach at least the P3=P1 target of 1614.   A move above the 1576 pivot resistance should begin to confirm this alternate (blue) count.

SP-500 15-min chart (EOD):

PUG SPX 15-min EOD 4-22-13

SP-500 60-min chart (EOD):

PUG SPX 60-min EOD 4-22-13

AAPL:  AAPL’s primary count is a P4 bottom at 385.56 and wave (1) of minor 1 of major [1]-P5 is underway headed for the 440 area.   The alternate (blue) count is that AAPL has one more low coming near the head and shoulders target of 370 to complete P4.

AAPL 15-min chart (EOD):

PUG AAPL 15-min EOD 4-22-13

AAPL 60-min chart (EOD):

PUG AAPL 60-min EOD 4-22-13

GLD:  Looks to be completing the wave (4) of minor C of major [Y]-P4 wave near the 38% retrace target of 139.38 and the move will be a wave (5) drop to the P4 target area of 127-128.   However should GLD breach 149.44 before a new low below 130.51, then the P4 bottom is in place at 130.51 and GLD is head to new highs.

GLD 60-min chart (EOD):

PUG GLD 60-min EOD 4-22-13

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