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    SCI-SCV, SCA-SCC: Super Cycle
    C1-C5, CA-CC :Cycle
    P1-P5, PA-PC : Primary
    [1]-[5], [A]-[C] : Major
    1-5, A-C : Minor
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May 3rd, 2013: Mid-day/EOD Update

Posted by pugsma on May 3, 2013

12:10 pm EST:  The break above the 1611-1613 area today eliminated the primary count P4 triangle option and confirms the alternate (blue) count that major [5]-P3-C3 is still extending higher.  I have a couple of targets for the completion of major [5]-P4, at [5]=0.5[1] => 1640 or [5]=0.62[1] => 1667.   It all depends if the major [5] is in minor 5 (primary) or minor 3 (alternate).   I believe this wave up is in the final stages of minor 5 of major [5] and it will end here very soon (a few days) between 1618 and 1640, see the 15-min chart for the minor degree wave count details.  It will take a break below the alternate (blue) minor 1 high of 1597 to invalidate that count and confirm the primary count that the P3-C3 top is in place.

Once P3-C3 ends between 1618 and 1667 in the next few days to a couple of weeks, we should look for 38% retrace for P4 down to targets in the 1484-1515 area over the summer months.

Have a great weekend.

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

SP-500 15-min mid-day 5-3-13

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

SP-500 60min midday 5-3-13

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

SP-500 4-hr chart midday 5-3-13

SP-500 daily chart (mid-day):

SP-500 daily midday 5-3-13

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