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June 26th, 2013 Update: Mid-day/EOD Update

Posted by pugsma on June 26, 2013

12:25 pm EST: Primary count is that minute (1) of minor 1 of major [5]-P3-C1 ended at 1604 and now the pull-back for minute (2) has began. Wave (2) targets range from the 38% retrace of 1587 to the 62% retrace at 1576. Once wave (2) completes, wave (3) will head for the 1646 area, which is also the ISH target. Minor 1 should end around the 1654 resistance area. Ultiamtely major [5]-P3-C1 should reach a target near 1775. The primary count remains valid for wave (2) above the 1560 low.

Alternate (blue) count is that wave (b) of minor Y of major [4]-P3-C1 completed at 1604 at the 50% retrace point. Now wave (c) of minor Y should drop toward the (c)=(a) target of 1509 or the Y=1.62*W target at 1510. If major [4] wants to end short of this target area, then there is the 38% retrace of major [3] target at 1527 and the wave 4 of previous degree target at 1536.

Support is at the 1576 pivot. Resistance is at the 1597 to 1603 area and then the 1623 area.

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

PUG SP-500 15-min chart MD 6-26-13

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

PUG SP-500 60-min chart MD 6-26-13

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

PUG SP-500 4-hr chart MD 6-26-13

SP-500 daily chart (mid-day):

PUG SP-500 daily chart MD 6-26-13

SP-500 weekly char (mid-day):

PUG SP-500 weekly chart MD 6-26-13

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