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February 12th, 2014: SP-500 EOD Update

Posted by pugsma on February 12, 2014

5:30 pm EST:  Here is the Cobra Market View (http://www.cobrasmarketview.com/) chart for the SPX 7 Day Rule for calling a important swing low and subsequent new SPX high to follow.

SPX 7DayRule CobraMarketView

4:35 pm EST:

Primary count is that minor 1 of major [5]-P3-C1 ended at 1826.   Minor 2 should be a quick (1 to 2 day) and mild 23%/38% (1807/1793) retracement to back test the rising 13-day EMA around 1797, before minor 3 head above 1851 toward the 1935 target, where minor 3 = 1.62*minor 1.  Ultimately, I’m expecting major [5]-P3-C1 to reach the 1941 target, where P3=1.23*P1.

The alternate (blue) count where this move up is a minor B wave of major [A]-P4-C1 completed a the (c)=(a) target of 1826 and the 78% retracement of 1826.  The minor C of major [A] target is at 1713, where C=A.   If this alternate (blue) count is correct, then it take a break back under the rising 13-day EMA of 1797 and then break below the 1775 pivot to confirm.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 2-12-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 2-12-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 2-12-14

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