I have not got time for support and resistance as I want to concentrate on the most manipulated market of the conspiracy theorists - silver and get the system as simple as possible!
So with the movement over the last few days the count is clarified as below and D3 of W5 of M3 looks like it will be higher and earlier than shown in A Quickie on US indices – SPX of the 25th June.
I just want to emphasize here the point that longer term projections are easier than shorter term. Compare the 2 projections and d4's confirmation with today's action so far brings D3 to the last week of July and a bit higher where prices are expected to bounce off around 1995. Today's low may not be done and could make a further spike but ís near enough there. There is plenty of support and the only way to get through that is a gap or a tedious grind! Tomorrow will tell. Have a look at the hourly chart which shows price target reached. but not yet timing.
However if you compare the next chart to the one shown below in the 30 January update and look how prices have followed the big picture to the Q MLU (you will need to follow the M012ML which I have bolded in today's update). So big picture easier!
Update 30 January 2014
I have been looking at these charts and the only count that fits all bar one rule break in the DOW give the following count, indicating that the bull market off the 2009 bottom is at its mid point! Based on that being correct below is the projection for the next few months. For the big picture see weekly update.
We are currently building a base on the long term support line and m4 should be within the next few days, ideally on the 4 Feb, around 1766. This should be followed by a test of 1900 (corrected from 2000 - that is summer high!) by mid April.
UPDATE 25 Arpil 2013
After a few days bouncing d-1 was made. Momentum is still very high and currently we are in c5 of d-2 in a very overbought position. This could stretch out for a day or 2. break of green triangle
UPDATE 17 April
Prices have broken d04 TL, and W012WL-1, but are still within the lower portion of D012 and still have a way to go to break that. They also have broken d234SP to D3.
Below is the most probable count, and 80:20 D3 is in as shown.
You can see the gap once prices work through this resistance for a day or 2. d345MLL is initial target on D012MLL - around 1515 app 3 May.
Final centi wave projected 1625 high before end of April to complete D3