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August 12th, 2013: EOD Update

Posted by pugsma on August 12, 2013

4:45 pm EST:   Today’s SPX price action did absolutely nothing to change either the primary or alternate (blue) wave count shown on Friday.  However, the $NYMO action did set a positive divergence with the lower SPX close today and could lead to the SPX challenging (i.e. wave (2) expanded flat for primary head for 1703/1706) or breaking above the 1709 high (i.e. alt blue count minor 2 low as an ED near 1680 then minor 3 move higher) in the near future.  I’ve added both possibilities to the 15-min chart, but all it does is makes things a mess and more confusing.  Best thing to do here is tto he let the SPX have a couple more trading days and the counts will sort themselves out.

SP-500 15-min chart (EOD):

PUG SP-500 15min chart EOD 8-12-13

SP-500 60-min chart (EOD):

PUG SP-500 60min chart EOD 8-12-13

SP-500 4-hr chart (EOD):

PUG SP-500 4hr chart EOD 8-12-13

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