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October 22nd, 2015: SP-500 EOD Update

Posted by pugsma on October 22, 2015

6:15 pm EST:   With the SP-500 big move up today and close above the 2046 pivot, the alternate (blue) count is at least equally probable to the primary red count now.   However, there is still the 200-day SMA (2060) and 50-week SMA (2060) resistance that could stop this Primary B (PB) wave per the primary (red) count.

The primary (red) count is that the PB-C2 wave is ending at the 200-day SMA (2060) and 50-week SMA (2060) resistance.  Once PB-C2 completes there should be multi-month to a year PC-C2 wave headed much lower to back-test the year 2007 top at 1575.

The alternate (blue) count is that PB-C2 will re-test the old 2135 high or slightly above as Cycle 2 (C2) plays out as a flat or expanded flat.  For the flat PB=PA at 2135 and for the expanded flat PB=1.23*PA at 2197.   Within major [C]-PB, wave minor 1 completed at 2022 and wave minor 2 retraced back to the 1991 pivot.  Wave minor 3 of major [C] has been underway since the 1991 minor 2 low, with wave minute (1) of minor 3 complete at 2039.  Wave (2) of minor 3 retraced about 50% to 2017 and now wave (3) of minor 3 is headed back to near the old high of 2135.  Wave (3)=2.0*(1) at 2113 and wave minor 3 = minor 1 at 2141.   A break below 1991 will invalidate the alternate (blue) count.

 Have a great weekend !!!

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 10-22-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 10-22-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 10-22-15

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 10-22-15

 

 

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