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 11th, 2014: SP-500 EOD Update

Posted by pugsma on September 11, 2014

5:50 pm EST:  The $NYMO closed back inside its lower BB today confirming the SP-500 Buy signal (see chart below).

http://stockcharts.com/h-sc/ui?s=$NYAD&p=D&b=7&g=0&id=p23917655901&a=269536931&r=1377203427577&cmd=print

The primary count is that wave (4) of minor 5 of major [5]-P3-C1 bottomed at 1983 yesterday and that the wave (5) up has begun.  The wave (5)=(1) target is 2023 and the wave (5)=1.62*(1) target is 2048.   There is a confluence of targets near 2050, where minor 5=1.  And there is a higher target at 2085, where major [5]=[1].  The primary count as labeled remains valid above 1983, however if wave (4) wants to move lower than 1983 then it remains valid above the wave (1) high of 1945.

The alternate (blue) count is that P3-C1 topped at 2011 and minor 1 of major [A]-P4-C1 is underway headed for the 1956 pivot area.  I’m expecting the wave (2) of minor 1 to complete between here at 1997 and 2003, which is the 62% retrace.  The alternate (blue) count remains valid for wave (2) below 2011.

Have a great weekend !

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 9-11-14

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 9-11-14

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 9-11-14

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 9-11-14

Sorry, the comment form is closed at this time.

 
%d bloggers like this: