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.

June 17th, 2015: SP-500 EOD Update

Posted by pugsma on June 17, 2015

3:05 pm EST:  The primary count is that major [1]-PA-C2 completed at 2072.  Wave major [2] completed at 2115, which was the  62%/78% retrace area.   The move up to 2115 for major [2] was a perfect back-test and “kiss goodbye” of the broken lower, yellow trend line of the primary count P5-C1 Ending Diagonal pattern.   Wave minor 1 of major [3] completed at 2072.   Minor 2 of major [3] is testing the 78%/88% retrace area of 2105/2110.  Once minor 2 completes, the heart of the minor 3 of major [3] wave down will be underway that should break below 2000.  The minor 3 target is at 1.62*minor 1= 2036 or 2.62*minor 1 = 1993.   The major [3] target is at [3]=2.62*[1] = 1950 target.  Ultimately PA-C2 should test the 1926 pivot to 1884 pivot area, which is a 62%/78% retrace of the P5-C1 ending diagonal.  The primary count remains valid for minor 2 of major [3] below the 2115 high.

The alternate (blue) count is that major [4]-P5-C1 completed at 2072 as a simple minor A-B-C.  Wave minor A of major [5] completed at 2115.   Wave minor B  retraced nearly all of minor A back down to 2072.   Minor C should be underway and will complete major [5]-P5-C1 of Ending Diagonal near the P5=0.5*P1 = 2172 target.   Not that there is minor C = 1.62*A target at 2142.  Basis the major [4] low of 2072, the ED maximum is 2074 + 154 = 2226 (as for an ED wave [5] < [3] < [1]).  The alternate (blue) count would go invalid on a move below 2072.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 6-17-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 6-17-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 6-17-15

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 6-17-15

Sorry, the comment form is closed at this time.

 
%d bloggers like this: