May 21st, 2013: EOD Update
Posted by pugsma on May 21, 2013
2:05 pm EST: The primary count is that wave minute (5) of minor 5 of major [3]-P3-C1 is nearing completion at the (5)=0.5(1) target of 1678.
The alternate (blue) count is that wave minute (3) of minor 5 of major [3]-P3-C1 is nearing completion at the (3)=1.62*(1) target of 1680. From there a wave minute (4) correction of a 23% retrace will bring the SPX price to 1657, before wave (5) completes near 1695, where (5)=0.62*(1). There is also the major [3]=1.23*[1] target at 1694.
Once major [3]-P3-C1 is complete there will be a major [4] correction that will likely take the form of a large triangle lasting several months into early fall 2013 and remaining above the 1576 Oct 2007 all-time high before major [5]-P3-C3 moves up towards 1800 into the spring of 2014 (see 4-hr chart).
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
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