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November 14th, 2013: SP-500 Mid-day/EOD

Posted by pugsma on November 14, 2013

2:55 pm EST:  Wave count details added to 15-min and 60-min charts below.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 11-14-13

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 11-14-13

11:20 am EST:  Alternate (blue) count as labeled yesterday is now officially dead.  The primary count as been spot on and is the highest probability path here at PUG SMA per the usual.   Minor 3 of major [5]-P3-C1 should continue to melt-up into the 1900+ area into the spring of 2014.  At this point the primary count is only in wave minute (1) of minor 3 headed for a 1810 target.   A break below the 1746 minor 2 low will invalidate the primary wave count and mean that the alternate (blue) count has a higher probability.

I have introduced a new alternate (blue) count that has the recent low of 1746 as the end of minor 4 of major [5]-P3-C1 (which was  a typical wave 4, 23% fib retrace of minor 3) and the final minor 5 wave up currently underway.  The target for the completion of minor 5 of major [5]-P3-C1 is in the range from 1810, where minor 5 = 0.62*minor 1 to 1849 where minor 5=1.  There is also a major [5]=0.62*[1] target at 1842.   It will take a break below the minor 1 high at 1730 to confirm that the minor 5 of major [5]-P3-C1 high has been reached per the alternate (blue) wave count.

SP-500 4-hr chart (mid-day):

PUG SP-500 4-hr chart MD 11-14-13

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