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.

September 14th, 2015: SP-500 EOD Update

Posted by pugsma on September 14, 2015

5:10 pm EST:   The SP-500 price continues to drift within the defined triangle boundaries near the 1956 pivot.   There should be a +/- 100 point resolution soon.

The primary (white/green) count has the major [B]-PB-C2 triangle on going with the move up to 1989 today as the minor B wave.  The move down from 1989 to 1937 is minor C.   From there a minor D wave up to 1965 (thus far) or the 1991 pivot and finally a minor E wave down to the 1956 pivot to complete major [B]-PB.   Once the major [B] triangle completes, the major [C]-PB wave should head for the 2046 pivot area.   Note that the 62% retrace target of PA-C2 for PB-C2 is at 2033 and there is a gap to fill at 2034-2036 on the break down for the 2046 pivot.

The alternate (blue) count has the Primary (A) of Cycle 2 (C2) wave still underway with the major [3]-PA low at 1867.  This move up from 1867 to 1989 has formed a major wave [4] flat wave.   Within major [4], the minor A wave reached 1993, minor B dropped to 1911 and the minor C wave hit 1989.  The major [5] wave drop to a new low below 1867 is underway with a major [5] = 1.62*[1] target of 1842.  There is also a 88% retrace of the P5-C1 wave up from 1814 to 2135 at a target of 1857 and 1849 pivot support to complete this PA-C1 wave.  Within major [5], minor 1 reached 1937, minor 2 retraced 50% to 1963 and now minor 3 should be underway with a target of 1879, where minor 3 =1.62*minor 1.  A move above 1991 pivot would likely mean the primary count is correct.

The very bearish alternate (red) count the has PB-C2 wave completing as flat at the 50% retrace of PA-C2 target of 2001.  From this PB-C2 completion at 1989, the PC-C2 Fibonacci extension targets are PC = PA = 1721, PC = 1.23*PA = 1659, and PC = 1.62*PA = 1555 (most likely as it re-test the year 2007 high).  A move above 1991 pivot would likely mean the primary count is correct.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 9-14-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 9-14-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 9-14-15

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 9-14-15

SP-500 weekly chart (EOD):

PUG SP-500 weekly EOD 9-14-15

Sorry, the comment form is closed at this time.

%d bloggers like this: