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February 25th, 2013: EOD Update

Posted by pugsma on February 25, 2013

4:05 pm EST:   The VIX failed to confirm the 3rd and final step of the VIX Sell, SPX Buy today with a lower close from Friday and the SPX sold off below 1497 per the alternate (blue) count.   The VIX closed well above its upper BB again (18.99 vs 16.66) and now the 3 step (3 day) process must begin again before any VIX Sell, SPX Buy signal can be confirmed.  Also the $NYMO closed back below its lower BB (-49 vs -42) and will need a close back inside its lower BB to confirm an SPX Buy.

Minor 4 of major [3]-P3-C3 is playing out a a sharp Zig-Zag off the recent 1531 high.  Wave (a) of minor 4 was a 34 point from 1531 to 1497. Wave (b) was a 29 point rise from 1497 to 1526 that ended this morning.   Wave (c) of minor 4 is underway now.   The wave (c)=(a) target of 1492 was exceed at the close today of 1488.  The next target is the 38% fib retrace of minor 3 at 1481.  And there is a wave (c)=1.62*(a) target at 1471. There is support near 1475 from the Sept 2012 high.  This count remains valid as long a minor 4 remains above the minor 1 high of 1448.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 2-25-13

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 2-25-13

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 2-25-13

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