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 4th, 2015: SP-500 EOD Update

Posted by pugsma on March 4, 2015

5:55 pm EST:  The third times the charm?  We’ve been looking for the bottom of this minute (4) wave for the past three days at 2104, 2098 and now 2088.   All three lows are within the typical wave 4, 23%/38% Fibonacci retrace range (2101/2089) mentioned here this week.

The primary count is wave (4) of minor 3 of major [3]-P5-C1 completed at 2088 as a 3-3-3 Zig-Zag at the 38% Fib retrace.  The wave iv-(3) of previous degree is 2085, so that fits as well with a typical wave 4 pattern.   Wave (5) of minor 3 should now be underway with a wave (5)=(1) target of 2157 and a minor 3 = 1.62*minor 1 target of 2177.  The major [3] target is at 2232 where [3]=[1].   Ultimately P5-C1 should reach at the least the P5 = 0.62*P1 = 2254 target by the summer of 2015 and there is the possibility that P5 could extend to the P5 = P1 = 2524 target by the end of 2015 (see the alternate (blue) count on the daily chart).

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 3-4-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 3-4-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 3-4-15

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 3-4-15

Sorry, the comment form is closed at this time.

%d bloggers like this: