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June 6, 2013: EOD Update

Posted by pugsma on June 6, 2013

2:45 pm EST:    Primary count is minor A of major [4]-P3-C1 bottomed at 1598, where (c)=1.23*(1).  This is right at the 1597 support that I have been saying was a good area to watch as the lower separation level between the primary and alternate (blue) count.  I’m now looking for move up to 1670 for minor B of the major [4] triangle.  The first move up from 1598 should be a 5-wave (a) of minor B to the 1635-1640 area, then a small wave (b) of minor B correction and wave (c) of minor B to 1670.

Alternate (blue) count is that wave (3) of minor A of major completed today at 1598 and a wave (4) of minor A is underway targets at the 23% retrace of 1615 or the 38% retrace of 1627.   Any move above the wave (1) low of 1635.53 would invalidate this alternate (blue) count and confirm the primary count.

Support is at 1597 and then 1576.  Resistance is at 1623 and then 1635.

SP-500 15-min chart (EOD):

PUG SPX 15-min chart EOD 6-6-13

SP-500 60-min chart (EOD):

PUG SPX 60-min chart EOD 6-6-13

SP-500 4-hr chart (EOD):

PUG SPX 4-hr chart EOD 6-6-13

SP-500 daily chart (EOD):

PUG SPX daily chart EOD 6-6-13

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