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 18th, 2015: SP-500 EOD Update

Posted by pugsma on May 18, 2015

4:20 pm EST:   The SP-500 set a new all-time high of 2132, which now satisfies everything required to complete the P5-C1 ending diagonal wave count.

The primary count is minor C of major [5]-P5-C1 is underway from the 2068 minor B low.   Minor C up has a target of 2148 (blue labels) where C=A or 2166 (white labels) where C=1.23*A to complete major [5]-P5-C1.   Within in minor C, wave (1) completed at 2118, wave (2) at 2086 and now wave (3) is underway headed for a target of (3)=1.62(1) = 2167.   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 primary count remains valid above the major [4] low of 2046.

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 5-18-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min chart EOD 5-18-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr chart EOD 5-18-15

SP-500 daily chart (EOD):

PUG SP-500 daily chart EOD 5-18-15

Sorry, the comment form is closed at this time.

 
%d bloggers like this: