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Sept 16th, 2013: EOD Update

Posted by pugsma on September 16, 2013

3:55 pm EST:  Today went precisely has predicted for the primary count with the wave (5) of minor 1 of major [3]-P5-C1 reaching the (5)=1.62*(1) target of 1705.  It looks like the minor 2 wave down is underway with the initial wave i-(a) move down to 1696.  I’m looking for wave (a)  of minor 2 to reach the 1676 support area  before the wave (b) bounce.  Ultimately minnow should reach the 1654 support area with is at the 50%/62% fib retrace cluster of 1666/1657.   The primary count remains valid as long as minor 2 holds above the major [2] 1627 low.  Once minor 2 completes, then the target for minor 3 of major [3] is at 1783-1792, where minor 3 = 1.62*minor 1.  The major [3] target is at 1868 where [3]=1,62*[1] and the P5-C1 target is at 1912 where P5=0.5*P1 to 1996 where P5=0.62P1.

The alternate (blue) count can be simplified into an ascending triangle that is now every similar to the primary wave count with the major [D]-P4 wave ending at 1705 today and a major [E]-P4 leg down towards 1654 support next to complete Primary Wave 4 (P4).  The ascending triangle P4 has a target of 1858, where 1709 + (1709-1560), for the completion of Primary 5 of Cycle (P5-C1).   The ascending triangle remains valid as long as the major [E] wave holds above the major [C] wave low of 1627.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 9-16-13

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 9-16-13

SP-500 4-hr chart (EOD):

PUG SP-500 4hr chart EOD 9-16-13

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 9-16-13

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