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February 12th, 2013: EOD Update

Posted by pugsma on February 12, 2013

2-13-13, 11:00 am EST:   The Nasdaq Summation Index ($NASI) is typically about 2 to 3 months early when picking tops.   It does a much better job in accurately picking bottoms.  See the chart below.

SP-500 vs $NASI

PUG SP-500 vs $NASI 2-13-13

4:40 pm EST:  Today went precisely as forecast for the SP-500 with wave i-(3) of minor 5 of major [3]-P3-C3 extending up towards the 1524 pivot target and reaching 1522.29.  If the SP-500 price can remain above 1517.97, then there is chance that more move push-up to 1524-1531 to complete i-(3).   Assuming wave i-(3) ends at 1524, then the wave ii-(3) retrace targets are 1514 (38%), 1511 (50%) and 1508 (62%).  From there wave iii-(3) should move to the 1542-1545 area.    Ultimately major [3]-P3-C3 should reach at least the 1555 pivot, where [3]=[1].

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 2-12-13

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 2-12-13

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