Tuesday, February 26, 2013

2/26/13 - EOD Update

There was some chop near the day's low, which turned out to be an ED to complete what may have been wave (iv) or wave [w] of (iv) or wave i of a nested 1-2 i-ii down.

5 Min 
Some things going for the bulls near term:

1. 30 min +ve MACD divergence
2. An inverted h/s
3. A potential VIX sell, equity buy signal in the works. One more lower close for the VIX will confirm it.

The bearish scenario calls for a larger degree 3 of 3 gap and go down on tap if wave ii is not complete yet.

Looks like a tiny bear flag. We'll see.

60 Min 

VIX - Daily

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