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December 20th, 2013: SP-500 Mid-day/EOD Update

Posted by pugsma on December 20, 2013

12:40 pm EST:     Yet another new All-Time high on the SP-500 was made today on the move above 1813.55 confirming the primary count.

The primary (and only) wave count is that wave (1) of minor 5 of major [5]-P3-C1 is finishing up here in the 1820 to 1831 area.  There should then be a 38%/50% fib retracement to the 1800 to 1807 area for wave (2).  Just remember that during a strong bull run the wave 2’s are typically shallower than the normal 50%/62% retracement.  After wave (2) completion, wave (3) should get underway headed for a preliminary target of 1902, where (3)=1.62*(1).  Ultimately the upper end of  minor 5 of major [5]-P3-C1 target is at 1934, where minor 5 =1.62* minor 1.  There is more typical minor 5=1 target at 1871 that we’ll have to watch as that level as it approaches.

Have a great weekend !

SP-500 15-min chart (mid-day):

PUG SP-500 15-min chart mid-day 12-20-13

SP-500 60-min chart (mid-day):

PUG SP-500 60-min chart mid-day 12-20-13

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

PUG SP-500 4-hr chart mid-day 12-20-13

SP-500 daily chart (mid-day):

PUG SP-500 daily chart mid-day 12-20-13

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