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

Posted by pugsma on June 20, 2013

12:15 pm EST:   Primary count is that the minor C leg of the major [4]-P3-C1 triangle is ending at 1599.  The next move should be a minor D leg up to the 1640-1645 area.  Followed by a minor E down to the 1600 to 1610 area.  This major [4] triangle count remains valid above the minor A low of 1598.23.

The alternate (blue) count is that minute (a) of minor Y of major [4]-P3-C1 is ending here at 1597 support.  There should be minute (b) retrace of 28%/50% to the 1619/1625 area before minute (c) of minor Y heads for the Y=W target of 1565. There are also lower targets at Y=1.23*W = 1544 and the 38% retrace of major [3] at 1527.

For both counts once major [4] completes, major [5]-P3-C1 will headed for a new high above 1687 with an initial target area near 1800 as shown on the 4-hr and daily charts.

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

PUG SP-500 15-min mid-day 6-20-13

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

PUG SP-500 60-min mid-day 6-20-13

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

PUG SP-500 4-hr mid-day 6-20-13

SP-500 daily chart (mid-day):

PUG SP-500 dailly 6-20-13

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