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.

September 3rd, 2014: SP-500 EOD Update

Posted by pugsma on September 3, 2014

5:05 pm EST:  Today saw yet another new All-Time High (ATH) of 2009 on the SP-500.

The primary count is that wave iv-(3) of minor 5 of major [5]-P3-C1 triangle completed at 1995 and the wave v-(3) move is underway headed for the (3)=2.62*(1) target area of 2033.  Once wave (3) completes, wave (4) will retrace 23%/38% (2009/1993) remaining above the wave (1) high of 1945 before wave (5) of minor completes at the minor 5=1 target of 2051 to end P3-C1.  Note there is also a variant of the primary wave count (not shown on the charts below) that has wave (3) complete today at 2009 and now the wave (4) retrace of 23%/38% (1990/1978) is underway that must remain above the wave (1) high of 1945.  Again once wave (4) complete wave (5)=(1) will move to the 2930/2018 area to finish P3-C1.

The alternate (blue) count is that wave (4) of minor 5 of major [5]-P3-C1 triangle completed at 1995 and wave (5) of minor 5 completed today at 2009, where (5)=0.62(1).   This means that P3-C1 topped at 2009 and now a 23% retrace to 1794 (-215 point, -10.7% correction) is underway for P4-C1.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 9-3-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 9-3-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 9-3-14

Sorry, the comment form is closed at this time.

 
%d bloggers like this: