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October 10th, 2013: SP-500 EOD Update

Posted by pugsma on October 10, 2013

5:25 pm EST:   As discussed intra-day yesterday, October 9th, I believed the DJ-30 hitting 14,719 and bouncing at precisely the minor C=A for major [4]-P3-C1 and the lower light blue P3 channel line indicated that the SP-500 primary count should be adjusted as well to indicate major [5]-P3-C1 is still ongoing with higher highs that 1730 expected near-to-intermediate term.  Given the minor 2 of major [5]-P3-C1 low at 1646, today went precisely as expected per the primary wave count.  The move expected today was wave iii-(1) of minor 3 of major [5]-P3-C1 headed for 1697, where wave iii=2.62*i.  The SP-500 hit 1693 at the close.   That maybe it for wave iii-(1) or there could be a small push up tomorrow before a wave iv-(1) consolidation.    Ultimately, I’m expecting wave (1) of minor 3 to end in the 1709 to 1730 pivot range before a wave (2) 50% correction back to the 1687 pivot.  The wave (3) of minor 3 target is up at 1780, where (3)=1.62*(1) and the minor 3 target is at 1795, where minor 3 = 1.62*minor 1.   Finally the major [5]-P3-C1 completion target is at 1861, where major [5]=0.62*[1].

SP-500 15-min chart (EOD):

SP-500 15-min chart EOD 10-10-13

SP-500 60-min chart (EOD):

SP-500 60-min chart EOD 10-10-13

SP-500 4-hr chart (EOD):

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

SP-500 daily chart (EOD):

SP-500 daily chart EOD 10-10-13

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