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February 13th, 2013: EOD Update

Posted by pugsma on February 13, 2013

4:30 pm EST:   Today saw the SP-500 extend wave i-(3) of minor 5 of major [3]-P3-C3 up to the 1524 pivot and then begin the wave ii-(3) retrace.  So far for wave ii-(3) we can observe a near perfect single 3-wave, zig-zag down to from 1524 to 1516, which is also near the 38% retrace target of 1514.   Wave ii-(3) could be complete at 1516 today or if wave ii-(3) needs more time and price then alternatively (blue) a double zig-zag could form, which would target the 1511 (50% retrace) to 1508 (62% retrace) area tomorrow.  A move above today’s high of 1524.69 will confirm the primary count that the wave iii-(3) move is underway headed for a 1548 target, where iii=1.23*i.  A break be low today low of 1515.93 will confirm the alternate (blue) count headed for 1511 to 1508.  In either case, major [3]-P3-C3 should reach the 1555 pivot over the next couple of weeks.

SP-500 15-min chart (EOD):

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

SP-500 60-min chart (EOD):

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

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 2-13-13

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