January 28th, 2013: EOD Update
Posted by pugsma on January 28, 2013
6:00 pm EST: For the SP-500 it looks look a small wave (4) triangle with a wave (5) triangle target of 1503 + 14 => 1517. There is also the minor 3 = 1.23*minor 1 target at 1531. Once minor 3 completes in the 1524 pivot resitance area, then I’m looking for a minor 4 retrace to the 1481 area to be followed by a minor 5 of major -P3-C3 move to the target of 1551, where =.
Support is at 1475 and resistance at the 1524 pivot area.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
GLD: For the primary count wave (2) of minor 1 of major -P5 is nearly complete at the 159.15 target. For the alternate (blue) count a break of 158.39 will lead to a wave -P5 drop to the 155 area.
GLD 60-min chart (EOD):
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