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.

August 26th, 2015: SP-500 EOD Update

Posted by pugsma on August 26, 2015

7:15 pm EST:  Today’s the SP-500 price low of 1880 held yesterday’s successful re-test of the 1867 low and then rallied to close near the day’s high at 1940.   The SPX, VIX and $NYMO all close back inside their respective BB’s and confirmed step 2 of the SPX Buy Trifecta (see chart below).   The PA-C2 (primary) or P4-C1 (alternate) low appears to be in place yesterday on the 2nd move to re-test Monday’s 1867 low.

http://stockcharts.com/h-sc/ui?s=%24NYAD&p=D&yr=0&mn=6&dy=0&id=p89169506250&a=269536931&r=1436983881638&cmd=print

The primary (white/green) count found the Primary A (PA) of Cycle 2 (C2) low at 1867.  There should now be a strong Primary B (PB) wave bounce to the 62%/78% retrace target of 2033/2076 into late summer/early fall followed by a much bigger drop for the PC-C2 wave that should reach the 1575 pivot area (i.e. the year 2007 old ATH) in mid-year 2016.  The details for the PB wave are shown on the 15-min and 60-min charts.  I’m looking for the major [A]-PB wave to reach the 1966-1977 gap fill and then a 50% retrace for major [B]-PB wave to the 1926 pivot area followed by a major [C]-PB wave up to the 2046 pivot.  The primary count remains valid for the PB-C2 wave below the ATH of 2135.

The alternate (blue) count has found the Primary 4 (P4) of Cycle 1 (C1) bottom at 1867 and is now in the very early stages of the Primary 5 (P5) of Cycle 1 (C1) wave that will make a new high above 2135 (initial P5-C1 targets are in the 2200-2300 area).   I’m looking for wave minor 1 of major [1]-P5 to reach the 1966-1971 gap fill before a minor 2 wave 50% retrace to the 1926 pivot area.  Minor 3 should then reach the 1.62 extension of minor 1 at the 2094 pivot area.  Ultimately major [1]-P5 should reach the 2135 high.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 8-26-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 8-26-15

SP-50 4-hr chart (EOD):

PUG SP-500 4-hr EOD 8-26-15

SP-500 daily chart (EOD):

PUG SP-500 Daily EOD 8-26-15

SP-500 weekly chat (EOD):

PUG SP-500 Weekly EOD 8-26-15

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: