October 18th, 2013: Premium Service Offer for Q4-2013 (Nov-Dec)
Posted by pugsma on October 18, 2013
We had yet another great week here at PUG SMA since calling the SP-500 1646 low set on Oct 9th. Early during the Oct 9th trading day we realized the DJ-30 was putting in a running flat low for major [4]-P3-C1 and the SP-500 was finishing up a running flat for minor 2 of major [5]-P3-C1. This important technical analysis information was conveyed real-time to the subscribers via the active comments section and then put into a blog post the evening of Oct 9th. The SP-500 was trading the in the 1660 range at the time of the comments. This put both the SP-500 and DJ-30 wave counts in to a very bullish bottoming configuration and projected that new market highs would soon follow (see the Oct 9th blog post below for details). The SP-500 today sits at a new all-time high of 1745 on Oct 18th. 🙂
If you would like to be to the join the PUG SMA premium service there is an offer below:
Sign-up for Q4-2013 (Nov-Dec) premium service for $80 and receive the rest of October for free.
You can read about the premium service description and how to complete the service subscription.
Check-out the SP-500 Long-Term View to see how things have unfolded as forecast the past 4+ years.
Take a look at what PUG Premium Subscribers are saying about the service in the Testimonials.
Enjoy this weekends music from Ric Ocasek and The Cars – “Let the Good Times Roll”
Protected: October 9th, 2013: EOD Update
Posted by pugsma on October 9, 2013
11:00 pm EST: The SP-500 does not count the same way as the DJ-30, but the conclusion is the same: P3-C1 is still underway headed higher than 1730 to at least P3=P1=1779.
The primary count for the SP-500 is that minor 2 of major [5]-P3-C1 is playing out as a running flat wave (c)=(a) at 1648. Thus, today’s 1646 low is the end of minor 2. The move up to 1662 today was wave i-(1) of minor 3 of major [5] and the drop to 1655 near the close was wave ii-(1). Now I’m looking for wave iii-(1) to be a move up to 1697, where iii=2.62*i The wave (1) target is the 1709 pivot. The minor 3 of major [5] should reach the 1795 area where minor 3 = 1.62* minor 1. Ultimately, major [5]-P3-C1 should reach to at least the P3=P1=1779 or to 1861, where [5]=0.62*[1].
The alternate (blue) count variant to the primary count is that wave iii-(c) of minor 2 of major [5]-P3-C1 ended today at 1646 and the a wave iv-(c) bounce to 1671 is underway. Wave v-(c) of minor 2 should reach at least the (c)=1.23(a) target of 1629 and maybe to the (c)=1.62(a) target of 1597. This alternate (blue) count remains valid as long as minor 2 of major [5] remains above the major [4] of 1560. Note that a move below 1560, would indicate that P3-C1 topped at 1730 and P4 is underway headed for 1481 or 38% retrace of P3. This would be the alternate (red) count, not shown on the charts at this point.
SP-500 Daily chart (EOD):
Oct 9th, 6:30 pm EST: I think it’s important tonight to start with a step back and look a the big picture wave count since the March 2009 low. It’s my opinion the DJ-30 tells a better story of the overall wave count and why Primary Wave 3 (P3) of Cycle 1 (C1) of Super Cycle V (SC-V) is very likely still unfolding with a higher, high ahead in the next few months.
Below are the daily and weekly charts on the DJ-30. Notice that P3 is still well short of the P3=P1 target of 16,810 and for a typical impulse wave P3 is equal to or greater than P1 with typical Fibonacci relationships at P3=1.23*P1 and 1.62*P1. Also, notice that the light blue E-wave channel for P3 is still intact with today DJ-30 low of 14,719. Also notice that the waves since the May 2012 high of 15,542 count best as a 3-3-5 wave structure, which is a flat, where minor C=A at 14,719. DJ-30 14,719 was precisely today’s low before the bounce to 14,852. Therefore the wave count that has the “right look” on the DJ-30 daily and weekly charts is that major [3]-P3 ended in May a 15,542 and that since May the DJ-30 has been tracing out a 3-3-5 running flat for major [4]-P3, where C=A at 14,719. While the DJ-30 could still drop a little more than 14,719 and stay in the light blue channel to complete major [4], the C=A=14,719 relationship hit today is very strong set-up for a bottom. From here the next move for the DJ-30 should be a major [5]-P3 wave toward a target of at 16,810 where P3=P1 or has high as 18,282 where P3=1.23*P1. There is also a major [5]=[1] target in between at 17,612.
More on the SP-500 chart updates to follow later tonight.
DJ-30 daily chart (EOD):
Sorry, the comment form is closed at this time.
You must be logged in to post a comment.