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May 20th, 2013: Mid-day/EOD Update

Posted by pugsma on May 20, 2013

11:45 am EST:    The primary count is that wave v-(5) of minor 5 of major [3]-P3-C1 is set to end at about 1678, where (5)=0.5(1).

The alternate (blue) count is that wave iii-(5) of minor 5 of major [3]-P3-C3 is set to end about at about 1681, where iii=2.62*i.   After a wave iv-(5) correction wave v-(5) will end between 1685 and 1708, where (5)=0.62*(1) to (5)=(1).  The major [3]=1.23*[1] target is at 1594.

As major [3]-P3-C1 finishes up here between 1678 and 1708 range, the coming major [4]-P3-C1 correction will likely either be a triangle wave that holds the 1576 previous all-time high from Oct 2007 at the 23% retrace area or a deeper Zig-Zag wave down to the 38% retrace area of 1532.  A prefer the major [4] triangle wave holding the 1576 high, as it alternates with the major [2] Zig-Zag and it will frustrate the bulls and bears alike over the summer of 2013.

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

PUG SP-500 15-min chart mid-day 5-20-13

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

PUG SP-500 60-min chart midday 5-20-13

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

PUG SP-500 4-hr chart midday 5-20-13

SP-500 daily chart (mid-day):

PUG SP-500 daily chart midday 5-20-13

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