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.

August 27th, 2013: Mid-day/EOD Update

Posted by pugsma on August 27, 2013

12:25 pm EST:   Primary count is that wave (1) of minor C of major [C]-P4-C1 is complete at 1638 or will test 1634.  The wave (3) bounce should test the 1652 to 1657 gap and fail.  Wave (3) should head for the 1609 area, where (3)=1.23*(1).  Ultimately major [C]-P4 should end near 1600, where C=A.  Next there will be a major [D] wave up to the 1654-1670 area before the P4 triangle completes a major [E] wave near 1620-1630.  For there P5-C1 will then head for a target above 1900.

The alternate (blue) count is that major [2]-P5-C1 is targeting either the 50% retrace of major [1] at 1634 or the 62% retrace at 1617.  From this major [3] low, major [3] will head for a 1766 to 1783 target where [3]=[1].  The ultimate target for end of P5-C1 is at 1912, where P5=0.5*P1.

The alternate (red) count is that minor 3 of major [1]-PA-C2 is underway headed for 1588, where minor 3 = 1.62*1.  The ultimate target for the completion of major [1] is the 1576 to 1553 pivot area.   This very bearish Cycle 2 (C2) count is headed for the 1000 to 1200 area over the next year.  This alternate (red) count would become invalid on a move above 1709, confirming the primary or alternate (blue) count.  Right now this alternate (red) is still a low probability wave count compared to either the primary or alternate (blue) count.

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

PUG SP-500 15-min chart MD 8-27-13

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

PUG SP-500 60-min chart MD 8-27-13

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

PUG SP-500 4-hr chart MD 8-27-13

Sorry, the comment form is closed at this time.

%d bloggers like this: