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.

March 13th, 2014: SP-500 EOD Update

Posted by pugsma on March 13, 2014

4:15 pm EST:  The primary count is that minute (2) of minor 3 of major [5]-P3-C1 bottomed today at 1842 as a triple zig-zag corrective near the 88% retrace of 1840.  From the wave (2) low, minute (3) of minor 3 should get underway and head towards at target at 1923, where (3)=1.62*(1).  Ultimately, major [5]-P3-C1 should reach a target in the 1941 to 1953 area.   This primary count remains valid as long as wave (2) remains above the minor 2 low of 1834.

The alternate (blue) count is that minor 2 of major [5]-P3-C1 is in the final leg of a double zig-zag corrective headed toward the (y)=1.62*(w) target of 1825 or the 50% retrace at 1812.   Wave a-(y) looks to have completed today at 1842 and now wave b-(y) should move towards at 50% retrace at 1858 before c-(y) drops to 1825, where c=a.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 3-13-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 3-13-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 3-13-14

Sorry, the comment form is closed at this time.

%d bloggers like this: