PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

November 13th, 2015: SP-500 EOD Update

Posted by pugsma on November 13, 2015

1:25 pm EST:  If the SP-500 continues to fall into the close, then the $NYMO has the potential to close 2 consecutive days below -40 and below the lower BB, setting up one of the most explosive ST $SPX buy triggers available.  If the SP-500 rallies into close, then both the $NYMO and VIX, SPX Buy triggers from yesterday will likely be confirmed.


The primary (red) count is that Primary B (PB) of Cycle 2 (C2) wave topped at 2116 and has begun the Primary C (PC) of Cycle 2 (C2) wave headed to the 1575 target area.   This first minor 1 of major [1]-PC wave is likely headed below the 2019 pivot to the 1991 pivot area before a significant bounce.  Within minor 1, wave (1) completed at 2068, wave (2) at 2087, and wave (3) ended 2027.   There should be a wave (4) bounce of a 23%/38% retrace to 2041/2050 before wave (5) drops to the 1991 pivot to complete minor 1.   The red count remains valid below 2116.

The alternate (blue) count is that Primary 5 (P5) of Cycle 1 (C1) has one more push up above the 2135 level.   The 2116 level was the major [3]-P5 high and this move from 2116 to 2027 (thus far) is a typical 38% retrace (2023) for major [4]-P5 wave.  Once major [4] completes here at the 2019 pivot, there will be a final major [5]-P5 push up above 2135 to a target area of 2154 to 2219.   Major [5]=[1] at 2154, there is a double bottom target of 2170 and P5=0.5*P1 at 2219.  The blue count remains valid above the major [1] high of 1993.

Have a wonderful weekend !

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 11-13-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 11-13-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 11-13-15

SP-500 daily chart (EOD):

PUG SP-500 Daily EOD 11-13-15

SP-500 weekly chart (EOD):

PUG SP-500 Weekly EOD 11-13-15

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