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February 13th, 2014: SP-500 EOD Update

Posted by pugsma on February 13, 2014

7:35 pm EST:  For the SPX “Rule of 7” we now have 5 of 6 up (green) days in a row since the 1738 swing low.  This is good evidence to help confirm the primary count.  Note: that 5 of 7 up (green) days off a swing low is enough to confirm the Rule of 7 and confirm a new SPX high is coming in the intermediate term (2 to 3 months).  However, 6 of 7 up (green) days would be the best confirmation, so look for a green close tomorrow, Feb 14th.

For the primary count it looks like minor 1 of major [5]-P3-C1 had some additional work to do.  Target is 1838, where (5)=1.62*(1).   Once minor 1 completes, minor 2 should retrace of 23%/38% and test the 1815/1800 area next week before minor 3 heads for 1900+.  Primary count would be fully confirmed on a move above 1851.

Alternate (blue) count is on life support with the minor B wave targeting the 88% retrace of minor A at 1838.  Minor C of major [A]-P4 needs to get underway immediately, break below the 1775 pivot and head toward a C=A target of 1725. The alternate (blue) count is invalidate on a move above 1851.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 2-13-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 2-13-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 2-13-14

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