February 7th, 2013: EOD Update
Posted by pugsma on February 7, 2013
4:50 pm EST: Today price action followed the primary count for a wave (c) of minor 4 of major -P3-C3 down to 1499. Wave (d) the minor 4 ascending triangle appears to be underway and headed for a re-test of 1515. From there a small wave (e) down to 1505 to 1510 before minor 5 of major  launches higher to the 1551 target.
For the alternate (blue) count wave (2) of minor 5 of major -P3-C3 is adjusted down today’s low of 1499 and wave (3) up is underway with a target of 1531, where (3)=1.62*(1). The alternate count requires a decisive move to break the 1515 resistance tomorrow. The major -P3-C3 target is the same as the primary count at 1551.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
SP-500 daily chart (EOD):
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