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October 13th, 2014: SP-500 EOD Update

Posted by pugsma on October 13, 2014

5:20 pm EST:  Today saw the SP-500 close at 1874 which is slightly below its 250-day SMA (1881) and 50-week SMA (1888).

The primary count (P4 Zig-Zag) is that minor 3 of major [C]-P4-C1 has been underway since the minor 2 high of 1935 on Friday.  The minor 3 target is at the 1.62*minor 1 extension of 1841.  Within minor 3, we have minute (1) at 1891, minute (2) at 1912 and now in minute (3), with a 1.23*(1) extension target of 1858.  Ultimately, major [C]-P4-C1 should reach the 1.62*[C] extension of 1819, which agrees with the 23% fib retracement of P3 at 1802 and the large head and shoulders pattern target is 1811.

The alternate (blue) count (P4 Expanded) Flat) is that minor 5 of major [C]-P4-C1 is ending here at the major [C]=1.62*[A] extension target of 1880.   Within the final minor 5 of major [C] wave, I have minute (1) at 1913, minute (2) at 1935,  minute (3) ending at 1891 and today’s bounce to 1912 as wave minute (4).  That means the maximum minute (5) wave length is 44 points lower than the wave (4) high of 1912 at 1868, so that wave (3) is not the shortest wave.  If the SP-500 price breaks below 1868, then the alternate (blue) count as labeled becomes invalid.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 10-13-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 10-13-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 10-13-14

SP-500 daily (EOD):

PUG SP-500 daily chart EOD 10-13-14

SP-500 weekly (EOD):

PUG SP-500 weekly chart EOD 10-13-14

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