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June 28th, 2013: Mid-day/EOD

Posted by pugsma on June 28, 2013

11:30 am EST:   Just as predicted minute wave (4) retrace about 38% back down to 1597-1600 support.  Also not that the wave (4) move down to 1601 is just above the 38% retrace target at 1597.   For the primary count minute wave (5) of minor 1 of major [5]-P3-C1 is underway head for the at least the (5)=(1) target of 1627 and move likely the (5)=1.62*(1) target of 1643.  There will then be a retrace for minor 2 back to 1600 support before minor 3 makes a new high above 1687.   Initially I have a minor 3 target at about 1736.  Ultimately, the major [5]-P3-C1 target is a 1775 something in late 2013 to early 2014.

The alternate (blue) count is that minute wave (b) of minor Y of major [4]-P3-C1 topped at 1620.07 and that minute (c) is underway headed for the (c)=(a) target of 1526, which is also the 38% retrace of major [3].   Any move above 1520.07 would invalid this count and further strengthen the primary count.  Note that 1618 was the 62% retrace for wave (b) and thus any move higher that 1620-1623 resistance makes the alternate (blue) count much less likely.

Have a great weekend !!!

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

PUG SP-500 15-min chart MD 6-28-13

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

PUG SP-500 60-min chart MD 6-28-13

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

PUG SP-500 4-hr chart MD 6-28-13

SP-500 daily chart (mid-day):

PUG SP-500 daily chart MD 6-28-13

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