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April 25th, 2013: EOD Update

Posted by pugsma on April 25, 2013

5:15 pm EST: At 1592.64, we have a good E-wave based count candidate for the top of [B]-P4-C3, which assumes P4 is going to play-out as a Zig-Zag off the 1597 P3-C3 high. We have a nice clean 5 waves up from 1577.08 for the wave (5) of minor C of major [B]-P4-C3. By this primary count a break below 1577.08 will confirm the top of P4-C3 is in place. There are two other variants of the primary count where [B]-P4 could reach 1597 (flat) or 1611 (expanded flat). Once [B]-P4 is confirmed complete there should a 100-125 point drop to down the 1472 (38% retrace of P3) for major [C]-P4. For the initial move lower, I’m expecting minor 1 of major [C] to reach the 1540 support area.

The alternate (blue) count remains the same that major [5]-P3-C3 is still climbing towards a minimum target of 1640, where major [5]=0.5*[1] with potential higher targets at 1669 and above 1700. A break above 1611 will confirm this alternate count.

SP-500 15-min chart (EOD):

SP-500 15-min chart EOD 4-25-13

SP-500 60-min chart (EOD):

SP-500 60-min chart EOD 4-25-13

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