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.

Sept 5th, 2013: EOD Update

Posted by pugsma on September 5, 2013

3:55 pm EST:  No change in the two wave counts today as thing went as expected.

Primary count could have ended with 5-waves up from 1633 to 1659 or there could one more push up to 1668/1678 (50%/62% retrace) for minor B of major [C]-P4-C1. In either case a 82 point drop down to just below 1600 for minor C of major [C]-P4 is likely very soon.    What the wave i-(c) of minor B level at 1641 to help determine if the minor B top is in place.  Remember that the P4 triangle likely has another month or two play out in waves [C], [D] and [E] between 1596 and 1678 before P5-C1 upward will begin headed for SPX 1912.

The alternate (blue) count is headed for the wave iii-(3) of minor 1 of major [3]-P5-C1 target of 1670 of then the wave (3) target at 1687.  Minor 1 should complete in the 1687 to 1709 pivot area before a small minor 2 correction above 1654 support.   Minor 3 of major [3]-P5 will last into the end of 2013 and reach a level above 1800 on the SPX.  Ultimately P5-C1 should reach the 1912 target.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart 9-5-13

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart 9-5-13

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart 9-5-13

Sorry, the comment form is closed at this time.

 
%d bloggers like this: