July 22nd, 2013: EOD Update
Posted by pugsma on July 22, 2013
3:45 pm EST: Primary count is that wave iii-(5) of minor 5 of major [5]-P3-C1 is underway headed for 1718, where iii=1.62*i. Ultimately wave v-(5) of minor 5 of major [5]-P3-C1 should reach at least the minor 5=1 target of 1732. There is also a higher target at 1769, where minor 5 = 1.62*minor 1. A move below 1684.08 and then below 1671.84 will invalidate the primary count and confirm the alternate (blue) count.
The alternate (blue) count is that wave (5) of minor 5 is playing out and an ending diagonal that must complete below 1700.57, in order that minor 3 not be the shortest wave. A move above 1700.57 will invalidate the alternate (blue) count and confirm the primary. The first target for wave (1) of minor A of major [A]-P4-C1 is at 1648, which is a collapses back to where the ending diagonal began. Ultimately minor A should reach the 1560 area below the minor B bounce up to 1630. The major [A]-P4-C1 target is at 1486 or the 38% retrace of P3.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
Sorry, the comment form is closed at this time.
You must be logged in to post a comment.