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 19th, 2013: EOD Update

Posted by pugsma on June 19, 2013

4:55 pm EST:  Primary count is that minor B of major [4]-P3-C1 contracting triangle ended at 1654, which was just short of the (c)=(a) 1659 target.  Minor C down to the 1615 area is underway.  Once minor C completes there will be a minor D wave up to the 1645 area and then a final minor E wave down to the 1630-1635 triangle pivot.  This major [4] triangle count remains valid as long as minor C stays above the minor A low of 1598.

Alternate (blue) count is that minor X of major [4]-P3-C1 completed and now minor Y is underway headed for a Y=W target of 1565.  The first wave (a) of minor Y should reach the 1597 support area.

In either case (primary or alternate) once major [4] completes in a week or two, major [5]-P3-C1 will head for a new high above 1687 with a target area near 1800.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 6-19-13

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 6-19-13

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 6-19-13

Sorry, the comment form is closed at this time.

%d bloggers like this: