July 25th, 2013: EOD Update
Posted by pugsma on July 25, 2013
3:20 pm EST: Today’s $NYMO vs SPX study indicates a new P3-C1 higher, high above 1699 is likely and possibly significantly higher than 1699.
The primary count is that minor 3 of major [5]-P3-C1 peaked at 1699 with an ending diagonal for wave (5) of minor 3. The ongoing correction is either all or part (i.e wave (a)) of minor 4 down to 1680. The minor 4 retrace targets are at the 23% fib of 1677 and the 38% fib of 1662. Once minor 4 is complete, the minor 5 of major [5]-P3-C1 targets range from 1722 to 1740, where minor 5 = 1 and should happened over then few weeks.
The alternate (blue) count is that minor 1 of major [5]-P3-C1 ended at 1699. The ongoing correction is minor 2 of major [5]-P3-C1. The minor 2 retrace targets are at the 38% fib of 1646 and the 50% fib of 1630. From there waves minor 3 and minor 5 of major [5] P3-C1 should advance to at least 1779, where P3=P1 or as high as 1940, where P3 = 1.23*P1 over the next few months.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
SP-500 daily chart (EOD):
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