Technical Analysis Blog | PUG Stock Market Analysis, LLC

PUG Stock Market Analysis is here to help with Gold technical analysis, stock analysis and more. Read our technical analysis blog to learn more today.

May 11th, 2015: SP-500 EOD Update

Posted by pugsma on May 11, 2015

 6:20 pm EST:  The primary count is that the move up from 2046 to 2126 was only minor A of major [5]-P5-C1 and the move down to 2068 was minor B of major [5]-P5-C1.   Thus, minor C up should now be underway with a target of 2148 where C=A or 2166 where C=1.23*A to complete major [5]-P5-C1.   Within in minor C, wave (1) completed at 2093, wave (2) at 2087 and now wave (3) is underway headed for a target of (3)=2.62(1) = 2153.   There is also the P5 = 0.5*P1 target at 2172.   Note that the Primary 5 (P5) ED maximum is 2185=(2046 + (2120-1981)), as the requirement for an ED wave is [5] < [3] < [1].

The alternate (red) count is that P5-C1 topped at 2126 and the Cycle 2 (C2) wave down is underway.  Wave minor 1 of major [1]-PA-C2 completed at 2078 and wave minor 2 was running flat ending at 2118, just below the 88% retrace of 2120.  Wave minor 3 should now be underway headed for a target of 2040, where minor 3 = 1.62*minor 1.  Minor [1]-PA should reach the 2019 pivot.  The alternate (red) count is valid below the 2126 level.

Once the Cycle (C1) top is confirmed on a break below 2040/2046, the Cycle 2 (C2) wave is likely headed for the 50% Fibonacci retrace area of 1419 over the next year.  The first Primary A (PA ) wave of C2 is likely to reach the 1814 pivot area (-15% correction) by the fall of 2015.

SP-500 15-min chart (EOD):

PUG SP-500 15-min chart EOD 5-11-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 5-11-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 5-11-15

Sorry, the comment form is closed at this time.

%d bloggers like this: