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.

January 22nd, 2015: SP-500 EOD Update

Posted by pugsma on January 22, 2015

5:25 pm EST:   The primary count is that wave (1) of minor 3 of major [3]-P5-C1 is underway head for the 2079 pivot area.  Within the wave minute (1) wave of minor 3, I have wave i-(1) at 2029, wave ii-(1) at 2004 and now wave iii-(1) underway headed for the wave iii = 1.62*i target of 2070.  Wave (1) of minor 3 should reach the 2079 area before a small wave (2) pull-back to the 38%/50% fib retrace of 2044/2034 and then the launch of wave (3) of minor 3 of major [3] to new all-time highs above 2094.  Wave minor 3 of major [3] should be headed for the minor 3 = 1.62*minor 1 target of 2184, wave major [3] should reach at least the [3]=[1] target of 2234 and ultimately major [5]-P5-C should reach at least the P5=0.62*P1 target of 2254.   The primary wave count remains valid above the 1988.12 low.

The alternate (blue) count is that major [2]-P5-C1 still underway and is headed for the 50%/62%  Fibonacci retrace of 1950/1918.   The 1922 low was the completion of wave minor A of major [2] and the double bounce to 2064 is all or most of a minor B flat.  For minor B, wave (c)=(a) at 2060.  Once minor B completes, minor C should head for the C=A=1962 or C=1.23*A=1938 to complete major [2].  A move above 2093.55 during minor B will invalidate this alternate (blue) count.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 1-22-15

SP-500 60-min chart (EOD):

PUG SP-500 60min chart EOD 1-22-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 1-22-15

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 1-22-15

Sorry, the comment form is closed at this time.

%d bloggers like this: