February 6th, 2013: EOD Update
Posted by pugsma on February 6, 2013
3:30 pm EST: No change in the wave counts with today’s price action. We did get the third step to confirm VIX Sell, SPX Buy signal today with the VIX closing in the red. This would tend to favor the alternate (blue), but I won’t change the primary count just yet as we need to see aggressive move up to break the 1515 to for price confirmation.
The primary count is that wave (c) of the minor 4 triangle completed wave’s a-(c) and b-(c) today and tomorrow there will be a wave c-(c) drop down to the 1500 area. From there a wave (d) of minor 4 back up to test 1515 and final a small wave (e) of minor 4 in the 1405 before the break-out of minor 5 of major -P3-C3 toward the 1555 pivot.
The alternate (blue) count is that wave (2) of minor 5 of major -P3-C3 completed to at 1505 and wave (3) of minor 5 is underway headed for a first target of 1538, where (3)=1.62*(1). Ultimately minor 5 of major  should reach the 1555 pivot.
SP-500 15-min chart (EOD):
SP-500 60-min chart (EOD):
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