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August 28th, 2013: Mid-day/EOD Update

Posted by pugsma on August 28, 2013

1:25 pm EST: With today’s fresh new low of 1627, we have a candidate for a potential bottom for both the primary and alternate (blue) counts. We need to watch the key indicators of the VIX Sell, SPX Buy and $NYMO positive divergence after the close today and tomorrow in order to confirm the bottom. If it’s not the bottom, then expect this move up to fail between 1648 and 1653, per the primary wave count. The various wave count details are shown on the 15-min chart below.

SP-500 15-min chart (mid-day):

PUG SP-500 15-min chart MD 8-28-13

SP-500 60-mi chart (mid-day):

PUG SP-500 60-min chart MD 8-28-13

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