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.

  • Meta

  • Follow Blog via Email

    Enter your email address to follow this blog and receive notifications of new posts by email.

  • Subscribe

  • PUG Wave Labeling

    SCI-SCV, SCA-SCC: Super Cycle
    C1-C5, CA-CC :Cycle
    P1-P5, PA-PC : Primary
    [1]-[5], [A]-[C] : Major
    1-5, A-C : Minor
    (1)-(5), (a)-(c) : Minute
    i-v, a-b : Minuette
    Primary Count:
    White/Green (Bull Market)
    White/Red (Bear Market)
    Alternate Count: Blue

  • Categories

  • Archives

July 19th, 2013: Mid-day/EOD Update

Posted by pugsma on July 19, 2013

12:40 pm EST:   Looks like a dangerous situation is developing per the alternate (blue) count, as a potential ending diagonal has formed for the completion of minor 5 of major [5]-P3-C1  at the double top near 1687.  If this alternate (blue) count proves to be correct, then the double top downside target is 1560 – (1687-1560) = 1433, which is just below the 38% retrace target for P4-C1 at 1486.

Primary count remains that minor 5 of major [5]-P3-C1 is underway headed for a 1732 target, where minor 5 =1.  Note that a move to 1732  to complete P3-C1 will eliminate the double top and mean that the P4 correction may not be as deep at the alternate (blue) count scenario.

Note that a break below 1620 will confirm that the P3-C1 top is in place and the P4 correction is underway..

Have a great weekend !

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

PUG SP-500 15-min chart MD 7-19-13

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

PUG SP-500 60-min chart MD 7-19-13

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

PUG SP-500 4-hr chart MD 7-19-13

Sorry, the comment form is closed at this time.

 
%d bloggers like this: