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July 16th, 2013: EOD Update

Posted by pugsma on July 16, 2013

5:10 pm EST:   The primary count is that wave (3) of minor 3 of major [5]-P3-C1 ended at 1684 and the (4) pull-back is underway with retrace targets at 1668 (23%) to 1658 (38%).  Once wave (4) complete, the wave (5) of minor 3 target is 1701, where minor 3=1.62*minor 1 and the minor 5 of major [5]-P3-C1 target is at 1738, where M5=M1.

The alternate (blue) count is that minor 3 of major [5]-P3-C1 ended at 1684.  The minor 4 correction is underway with retrace targets at 1666 (23%) and 1654 (38%).  Once minor 4 ends, there will be one more push up to 1702 to 1714 to complete minor 5 of major [5]-P3-C1.

In either case an important top of P3-C1 is near.  Once P3-C1 tops, the SP-500 is likely to enter an extended period (9 months to a year) of volatility during P4.  For right now I think P4 may play out as an ascending triangle which will alternate with the sharp, quick (3 month) P2 drop from 1371 to 1075, see the updated weekly chart for the P# outline of the next year.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 7-16-13

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 7-16-13

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 7-16-13

SP-500 daily chart (EOD):

PUG SP-500 Daily EOD 7-16-13

SP-500 weekly chart (EOD):

PUG SP-500 Weekly EOD 7-16-13

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