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October 4th, 2013: SP-500 EOD Update

Posted by pugsma on October 4, 2013

7:15 pm EST:   Today the $NYMO SP-500 Buy Signal was confirmed as the $NYMO closed back inside its lower BB.  Also, the 2nd step of the VIX Sell, SP-500 Buy signal was completed today.  This 2nd step is the first confirmation of the VIX Sell, SP-500 Buy signal.  There is final 3rd step that is a secondary confirmation (but not required) if the VIX closes red on the 2nd day after the initial VIX close above the upper BB, so we’ll need to wait for Monday for that one.

The primary count has been modified slightly to show the move down from 1730 to 1670 as a Leading Diagonal (LD) for minor 1 of major [A]-P4-C1 that completed at 1670 yesterday.  Today’s rally to 1692 is either all or most of wave (a) of minor 2.   There should be a slight pull-back for wave (b) followed by a wave (c) up to 1717, which is the typical 78% retrace for a LD.  This primary count remains valid as long as minor 2 remains below 1730.   Once minor 2 completes there should be a larger drop from 1617 to 1620 for minor 3 of major [A}-P4.  And the major [A]-P4 target is near 1620.

The alternate (blue) count is that minor 4 of major [5]-P3-C1 completed at 1670.   For this alternate (blue) count, minor 5 up is underway that must complete the major [5] Ending Diagonal (ED) at a maximum of 1670 + 103 = 1773.  The first wave up of minor 5 should be a 5-wave move to wave (a) t the 1730 to 1740 area.

Have a super weekend !!!

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 10-4-13

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 10-4-13

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 10-4-13

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