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January 18th, 2012: Update 1 – Morning
Posted by pugsma on January 18, 2012
12:50 pm EST: Here is the updated SP-500 15-min chart. The primary count continues to be right on track with this market. We have a first target for wave v-(5) of minor 3 at 1307, where v=1.62*i, but here is also a target at 1319, where (5)=(1). There is pivot resistance at 1315. The blue alternate count variant was eliminated with the push above 1303.00. You can see the minor 4 of major [3]-P1-C3 pull-back targets listed on the 15-min chart once we complete the minor 3 wave up.
SP-500 15-min chart (12:45 pm):
January 18th, 2012: Update 2 – Afternoon/EOD
Posted by pugsma on January 18, 2012
4:05 pm EST: Check out this SP-500 Weekly Candles Chart with the MCAD shown below the price. When the weekly MACD cross above zero and is pointing higher at a 45 deg angle, you should be looking to “buy the dips” as the SP-500 upward price movement has good momentum that could last 2 to 3 more months. Which in this case, would carry the SP-500 price to my 1400 to 1440 price target for the conclusion of P1-C3.
SP-500 Weekly Candles (EOD):
3:00 pm EST: Is there anything more exciting and rewarding than a bull market minor 3 of major [3] wave? Nope, not to me as an Elliott Wave Technician who over 2 years ago called the March 2009 generational bottom at SP-500 667 the end of Super Cycle Degree IV. 
Primary count is that wave v-(5) of minor 3 of major [3]-P1-C3 is finishing up near the v=1.62*i target of 1307 or the (5)=(1) target of 1319. For this area there should be a significant correction in time, if not price for minor 4. The minor 4 targets are in the 1282/1292 (23% retrace of minor 3) or 1267/1275 (38% retrace) area depending of minor ends at 1307 or 1319. Minor 4 should remain above the minor 1 high of 1267 to remain valid.
The new alternate (blue) count variant to the primary count above is that wave i-(5) of minor 3 is just ending here near 1307. There should be about a 50% retrace to the 1291 pivot area for wave ii-(5) before wave iii-(5) heads for 1340. The ultimate target for wave v-(5) of minor is 1344, where (5)=1.62*(1). There is also a minor 3 = 1.23*minor 1 target at 1336.
SP-500 5-min chart (3:30 pm):
SP-500 15-min chart (2:50 pm):
SP-500 60-min chart (3:09 pm):
SP-500 4-hr chart (EOD):
SP-500 Daily chart (EOD):
