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.

February 21st, 2013: Mid-way Update

Posted by pugsma on February 21, 2013

11:00 am EST: Minor 4 has reached the first target of 1500 for the 23% fib retrace and the 1495 to 1500 support area. For the primary count this would be all of minor 4. And from 1500 a 5-wave move up to the 1553 pivot for minor 5 of major [3]-P3-C3 should be underway.

For the alternate (blue) count this move to 1500 is only wave (w) of a larger minor 4 correction down to the 38% fib retrace of 1481 and the 1475 support area. There should be an (x) wave bounce to a 50% fib retrace of 1515 before wave (y) drops another 30 to 40 points to the 1475 support area.

SP-500 15-min chart (11:00 am):

PUG SP-500 15-min mid-day 2-21-13

SP-500 60-min chart ( 11:00 am):

PUG SP-500 60-min mid-day 2-21-13

Sorry, the comment form is closed at this time.

 
%d bloggers like this: