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.

August 5th, 2015: SP-500 Mid-day/EOD Update

Posted by pugsma on August 5, 2015

12:45 pm EST:  The primary (white/green) count is that wave minor 3 of major [3]-PA-C2 is underway with minor 2 of major [3] complete at 2114.   The minor 3 of major [3] should head below 2000, where minor 3 = 1.62*minor 1 at 2002 and major [3]=1.62*[1] at 1986.   Within minor 3, wave (1) ended at 2087, wave (2) at 2113 and now wave (3) should drop to 2042, where (3)=2.62*(1) (see the 15-min and 60-min chart for details).   Ultimately PA-C2 should reach at least 1954 (62% retrace of the P5-C1 Ending Diagonal) and maybe 1889 (78% retrace of the P5-C1 Ending Diagonal).  The primary count remains valid for minor 2 wave below 2133.

The alternate (blue) count is that the Primary 5 (P5) of Cycle 1 (C1) Ending Diagonal (ED) is extending from the recent major [4]-P5-C1 low of 2044.   The final wave up for major [5]-P5 is underway and should unfold at a 3-wave, minor A-B-C.  Wave minor A reached the 2135 pivot (2133) and the minor B wave retraced 78% to 2063.  Minor C is now underway and should complete major [5]-P5-C1 near the P5 = 0.5*P1 target of 2172.  Within minor C, wave (1) reached 2114, wave (2) completed at 2087 and now wave (3) should make a new high above 2135, where (3)=1.62*(1)=2168 (see 15-min and 60-min chart for details).  Note: the ending diagonal maximum (i.e. wave [5] < [3] < [1]) for this primary wave count is at 2044 + (2135-1981) = 2198.  The alternate (blue) counts remain valid above 2064 and then the recent major [4]-P5-C1 2044 low.   It will take a break of the 2046 pivot area to confirm the Cycle 1 (C1) top is in place per the primary count.

SP-500 15-min chart (mid-day):
PUG SP-500 15min chart MD 8-5-15

SP-500 60-min chart (mid-day):

PUG SP-500 60-min chart MD 8-5-15

SP-500 4-hr chart (mid-day):

PUG SP-500 4hr chart MD 8-5-15

SP-500 daily chart (mid-day):

PUG SP-500 daily chart MD 8-5-15

SP-500 weekly chart (mid-day):

PUG SP-500 weekly chart MD 8-5-15

 

Sorry, the comment form is closed at this time.

 
%d bloggers like this: