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.

July 23rd, 2013: Mid-day Update

Posted by pugsma on July 23, 2013

11:00 am EST:  The rising wedge just broke.  So it was either a leading diagonal for wave i of (5) if minor 5 of major [5]-P3-C1 of the primary count, in which case a wave ii-(5) retrace has begun headed for the 50%/60% retrace targets of 1686/1682 or it’s the alternate (blue) count on a break below 1672 headed for the wave (1) of minor A of major [A]-P4-C3 target of 1647.

The primary count target for the completion of wave v-(5) of minor 5 of major [5]-P3-C1 remains at the minor 5=1 target of 1732 with an upside target to 1769, where minor 5 = 1.62* minor 1.

Note, a break above 1700.57 will invalidate the alternate (blue) count and a break below 1671.84 will invalidate the primary count.

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

PUG SP-500 15-min chart morn 7-23-13

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

PUG SP-500 60-min chart morn 7-23-13

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

PUG SP-500 4-hr chart morn 7-23-13

Sorry, the comment form is closed at this time.

 
%d bloggers like this: