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August 2nd, 2013: EOD Update

Posted by pugsma on August 3, 2013

Sat. Aug 3rd, 213:   Another new all-time high on the SP-500 at 1709.

The primary count in is wave v-(3) headed for a wave (3)=2.62*(1) target of 1724.  Ultimately wave (5) of minor 5 of major [5]-P3-C1 should reach the minor 5=1 target of 1736 next week.   From there a significant P4-C1 correction should begin.

The alternate (blue) count is considerably more bullish in the intermediate term than the primary count.  The alternate (blue) count Is completing only minor 1 of major [5]-P3-C1 near 1713.  After a  minor 2 correction of a 50%/62% retrace to 1637/1618, the SP-500 will continue its advance into late 2013 to early 2014 to a target of at least 1779 (P3-P1) and more likely near 1940 (P3=1.23*P1).

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 8-2-13

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 8-2-13

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 8-2-13

This entry was posted on August 3, 2013 at 11:56 am and is filed under SP-500. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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