PUG Stock Market Analysis, LLC | Technical Analysis Blog

PUG Stock Market Analysis is here to help with SP500, QQQ, IWM, Gold technical analysis, stock analysis and more.

«
»

June 15th, 2010: Update 2 – Intra-Day Morning

Posted by pugsma on June 15, 2010

10:05am  EST:  Looks like we have hit the b-leg high of 1101 this morning and will be heading down in the c-leg to about 1082 (38% retrace) for wave (2).  However, I have drawn in the new middle channel line that has been acting as strong support since the 1051 low.  If the SP-500 can stay above this mid-channel line, then my original labeling of 1077 as wave (1) and 1051 as wave (2) maybe correct after all.  This would mean that we are in wave iii-(3) and the SP-500 will blast through 1106 and 1115 resistance in the next couple of days.

SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=804c9a53-e2dd-4c8d-a9ac-f64d377e93d7

SP-500 15-min Chart (10:00am):

This entry was posted on June 15, 2010 at 9:10 am and is filed under SP-500. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Sorry, the comment form is closed at this time.

«
»
 
%d bloggers like this: