December 20th, 2012: EOD
Posted by pugsma on December 20, 2012
5:50 pm EST: For the primary count the drop to 1432 today looks like the completion of wave a-ii-(3) of minor 3 of major -P3-C# and the rise to 1444 the completion of wave b-ii-(3). I’m now looking for another 16 point drop for wave c-ii down a c=a target of 1428. This is right in the 50%/62% retrace target zone of 1430/1426 for wave ii-(3).
There is potential variant alternate (blue) count that 1432 ended wave ii-(3) and now wave iii-(3) up has begun. A move above the 1440 pivot upper range of 1447 would confirm.
Support is at the 1422-1427 zone and resistance in the 1440 pivot range.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
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