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. 10th, 2013: Mid-day/EOD Update

Posted by pugsma on September 10, 2013

11:35 pm EST:   Here is the updated charts reflecting the primary count change to the original alternate (blue) as indicated yesterday intra-day on the break above and close above the 50-day SMA (1666).

The primary count is looking for minor 1 of major [3]-P5-C1 to end in the 1690 to 1709 area over the next few days.  From the minor 1 high, a minor 2 wave pull-back should to hold above 1654 support.    Note that the primary count remains valid as long as the minor 2 of major [3] retrace holds above the 1627 low.   The minor 3 of major [3] projection is roughly 1761 depending on precisely where minor 1 and minor 2.  The major [3] target is at least 1810, where [3]=[1] and the major [5]-P5-C1 target is 1912, where P5=0.62*P1.

Not the original primary count P4 triangle is now the alternate (blue) and remains a valid count so long as 1709 is not breached before a drop below 1627.  Assuming minor B of major [C]-P4 ends here near the 78% retrace of 1691, then the minor C of major [C] target is at 1609, where C=A.

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

PUG SP-500 15-min chart MD 9-10-13

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

PUG SP-500 60-min chart MD 9-10-13

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

PUG SP-500 4-hr chart MD 9-10-13

Sorry, the comment form is closed at this time.