December 2nd, 2013: SP-500 EOD Update
Posted by pugsma on December 2, 2013
5:10 pm EST: For the primary count wave ii-(3) of minor 3 of major [5]-P3-C1 is underway and may have ended today at the c=a target of 1799, which is also a 38% fib retrace. If wave ii-(3) extends then the next target is at 1792, where c=1.62*a, which is in-between the 50%/62% fib retrace of 1794/1790. Note that wave ii-(3) of the primary count remains valid above the wave (2) low of 1777. One wave ii-(3) completes, then the wave iii-(3) target is near 1850, where iii=1.62*i and the wave (3) target is at 1867, where (3)=1.62*(1).
The alternate (blue) count is that major [5]-P3-C1 topped at 1813 and that wave minor 1 of major [A]-P4-C1 is underway headed for a target near 1746. Wave (1) of minor 1 completed at 1802 and wave (2) at 1810. Wave (3) is now underway headed for a 1764 target, where (3)=4.21*(1). The alternate (blue) count would become invalid on a move above 1813, before break below 1777.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 4-hr chart (EOD):
Sorry, the comment form is closed at this time.