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November 11th, 2015: SP-500 EOD Update

Posted by pugsma on November 11, 2015

4:50 pm EST:   The SP-500 price closed at 2075.00 with the $NYMO at -31.44, which is a lower SP-500 price close than Monday’s 2078.58 with the $NYMO at -35.42.  Thus, there is a 2-day, potential positive divergence (+DIV) on the $NYMO, which will often lead to a big SPX move higher.  This is combined with the SPX buy trigger of the $NYMO closing back inside the lower BB for a 2nd consecutive day, after a close below the BB on Monday.

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 minor 4 of major [C]-PB-C2 wave could be complete at the 38% FIB retrace of 2068 as a double Zig-Zag or might need one more move lower to test the 2046 pivot to complete as a triple Zig-Zag.  In either case, once minor 4 completes, next up should be a minor 5 wave re-test of the 2135 all-time high or above to 2193.  There is a double bottom (1867,1872) target at 2170.  Note: it will take a break below 2022 to call the PB-C2 top.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 11-11-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 11-11-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 11-11-15

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 11-11-15

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