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 21st, 2013: Mid-day/EOD Update

Posted by pugsma on June 21, 2013

1:15 pm EST:  Primary count is looking for major [4]-P3-C1 to end here at the 1576 pivot range (1569 to 1583).   So for today the SP-500 traded down to 1577.70, so major [4]-P3-C1 should be wrapping up.  There is also a (c)=0.62(a) target at 1575 for minor Y of major [4] and there is Y=W target at 1565, should the SP-500 want to make a lower, low than 1577.70.   Note that the major [5]-P3-C1 target is 1790 basis major [4] ending at 1578 today, which is the major [5]=0.62[1] target.

The alternate (blue) count is that this move to the 1576 pivot range is only wave minute (a) of minor Y of major [4]-P3-C1.   After a minute (b) retrace between 50%/62% (1616/1625), there will be a minute (c) move down to the W=Y target of 1544 or to the 38% retrace of major [3] at 1527.

A McClellan Oscillator close above yesterdays low of -78.85 will confirm a positive divergence on the $NYMO (-79 for SPX 1588) versus the $NYMO -107 for SPX 1598 from earlier in June.  This $NYMO positive divergence form a over-sold area around -80 would likely lead to a significant rally in the SPX, which would favor the primary count.

Have a great weekend !

SP-500 15-min chart (mid-day):

PUG SP-500 15-min midday 6-21-13

SP-500 60-min chart (mid-day):

PUG SP-500 60-min midday 6-21-13

SP-500 4-hr chart (mid-day):

PUG AAPL 4-hr mid-day 6-21-13

SP-500 Daily chart (mid-day):

PUG SP-500 dailly 6-21-13

SP-500 Weekly Chart (EOD):

PUG SP-500 weekly 6-21-13

Sorry, the comment form is closed at this time.

 
%d bloggers like this: