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May 7th, 2013: EOD Update

Posted by pugsma on May 7, 2013

4:25 pm EST:  No change in the wave counts from yesterday.  See the 15-min chart for the details.

SP-500 15-min chart (EOD):

SP-500 15-min EOD 5-7-13

SP-500 60-min chart (EOD):

SP-500 60-min EOD 5-7-13

AAPL:  AAPL may have peaked in minor 1 of major [1]-P5 today at 466 near the (5)=(1) target.  There is also potential Inverse Head and Shoulders forming with left shoulder at 419, head at 385, neckline 470, and now a right shoulder at 425-434 (i.e. minor 2 wave).  IHS target is 555 on break above 470.

AAPL 60-min chart (EOD):

AAPL 60-min EOD 5-7-13

GLD:   GLD is still trying to decided between the primary and alternate counts.   A break below 135.11 before above 143.43 brings the primary count calling for a new low below 130.51 to complete P4.  A break above 143.43 before below 135.11 brings the alternate count calling for wave minor 1 of major [1]-P5 to 146.5.

GLD 60-min chart (EOD):

GLD 60-min EOD 5-7-13

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