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 60-min chart (EOD):
SP-500 4-hr chart (EOD):
SP-500 daily chart (EOD):
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