November 6th, 2013: SP-500 EOD Update
Posted by pugsma on November 6, 2013
5:40 pm EST: Today new all-time high on the DJ-30 and near new all-time high on the SP-500 at 1773.74 vs 1775.22 likely means that there is still one more push up above 1775.22 coming in the next few days.
The primary count is that wave (4) of minor 1 of major [5]-P3-C1 ended at 1753 and that wave (5) of minor is headed for a target are of 1793, where (5)=0.62*(1) or 1818, where (5)=(1). From the minor 1 high, a significant for minor 2 should occur back to the 1730 pivot area.
The alternate (blue) count is that minor 4 of major [5]-P3-C1 ended at 1753 and that wave minor 5 is headed for a target of 1786, where minor 5 = 0.5*minor 1. There is also the P3=P1 target 1779. Note that the upper range of the 1779 pivot is at 1786.
A break below 1753, before above 1775, would indicate that both counts had topped at 1775.22 has previously thought.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
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