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December 4th, 2013: SP-500 EOD Update

Posted by pugsma on December 4, 2013

4:55 pm EST:  The primary count is that wave (2) of minor 3 of major [5]-P3-C1 ended today at the 50% fib retrace of 1779.  The first wave (3) fib target is at 1862 where (3)=1.23*(1) and the next fib target is at 1888, where (3)=1.62*(1).  The minor 3 of major [5] target remains at 1905 and the major [5]-P3 target at 1941.  This primary count remains valid above the minor 2 low 1746.

The alternate (blue) count remains the same.  Wave P3-C1 topped at 1813 and a significant P4-C1 correction down towards the 1576 pivot is underway that will last several months.  The first wave down is minor 1 of major [A]-P4 and is likely headed for 1746 or below.  Wave (3) of minor 1 is underway with a target area of 1764, where (3)=4.21*(1).  This alternate (blue) count remains valid below 1813, but a move above today high to 1800 would severely damage the alternate (blue) count.

The critical level to watch for an intermediate term (IT) trend change remains at 1746.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 12-4-13

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 12-4-13

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 12-4-13

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