May 14th, 2013: EOD Update
Posted by pugsma on May 14, 2013
6:40 pm EST: For the primary count wave v-(5) of minor 5 of major [3]-P3-C1 is underway, with targets at 1657 where v=i and at 1665 where v=1.62*i. Also the major minor 5 = 0.62*minor 1 target is at 1665. Once major [3]-P3-C1 is complete there will be major [4]-P3 correction down towards a 38% retrace target of 1515. The first target for minor A of major [4] is at the 1576 area.
The alternate (blue) count is that wave (3) of minor 5 of major [3]-P3-C3 is still underway, with a target at 1656, where (3)=1.23*(1). From there a wave (4) correction to a 23% retrace of 1639 and then a wave (5) up to near 1700 where (5)=(1). There is also major [3]=1.23*[1] target at 1694. From the 1694-1700 completion of major [3]-P3-C1, the major [4]-P3 correction should target the 38% retrace of 1532.
For either count it will take a break below the wave (1) of minor 5 high of 1596.65 for confirmation that the minor 5 of major [3]-P3-C1 wave is complete and major [4]-P3-C1 correction is underway.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
SP-500 daily chart (EOD):
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