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May 22nd, 2013: Mid-day

Posted by pugsma on May 22, 2013

1:15 pm EST:  Looks like SPX wants to hit the top of the SP-500 weekly channel at about 1694 to 1744 over the next few weeks to complete major [3]-P3-C1.  There is a lower target at 1694 where major [3]=1.23*[1], a mid-range target at 1724 where minute (5)=(1) and upper target at 1744 where minor 5 = 1.

On the 15-min chart, minute (3) of minor 5 of major [3]-P1-C1 looks to have completed at 1687 today and now a wave (4) is underway that should hold above the 38% retrace of 1647, which is the wave iv-(3) of previous degree.  After wave (4) finishes, there will be one more high above 1687 to complete minute (5).

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

PUG SP-500 15-min chart mid-day 5-22-13

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

PUG SP-500 60-min chart mid-day 5-22-13

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

PUG SP-500 4-hr chart mid-day 5-22-13

SP-500 daily chart (mid-day):

PUG SP-500 daily chart mid-day 5-22-13

SP-500 weekly chart (mid-day):

PUG SP-500 weekly chart mid-day 5-22-13

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