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.

December 15th, 2015: SP-500 EOD Update

Posted by pugsma on December 15, 2015

2:10 pm EST:   The SP-500 price bounced off the 1991 pivot support and has moved up into strong overhead resistance at the 2046 pivot:

Daily Moving Average Overhead Resistance:
13-day EMA 2055 (Bear Cross below 34-day EMA)
34-day EMA 2058
50-day SMA 2059
200-day SMA 2062

Weekly Moving Average Overhead Resistance:
13-week EMA 2048
34-week EMA 2046
50-week SMA 2060

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.   Within PC, the major [1] wave is underway headed for the 1884/1905 pivot area.   This first minor 1 of major [1] wave completed at the 2019 pivot.   The minor 2 of major [1] wave ended at the 88% Fib retrace of 2104.  Wave minor 3 is underway to 1910, where minor 3 = 2.0*minor 1.   Within minor 3, wave minute (1) ended at 1993 and wave (2) is now retracing 50%/62% to 2049/2062.   Once wave (2) completes, wave (3) of minor 3 will drop below 1993, to a target of (3)=(1) at 1951.  The red count remains valid as long as the wave (2) of minor 3 remains below minor 2 high of 2104.

The alternate (blue) count is that Primary 5 (P5) of Cycle 1 (C1) has one more push up above the 2135 level coming of the Primary 4 (P4) low of 1872 from September.   The final P5 target is at either the P5=0.50*P1 at 2224 or P5=0.62*P1 at 2308.   Within P5, the major [1] completed at 2116 and now major [2] completed as a minor A-B-C Zig-Zag that should retraced 50% to 1993.   Major [3] wave is underway that will reach at least the [3]=[1] level of 2237.  Within major [3], the minor  1 wave looks to be headed for a 2064 target before a minor 2 retrace of 50%/62% to 2029/2020.  The blue count remains valid as long the minor 2 of major [3] wave remains above the major [2] low of 1993.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 12-15-15

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 12-15-15

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 12-15-15

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 12-15-15

SP-500 weekly chart (EOD):

PUG SP-500 weekly EOD 12-15-15


Sorry, the comment form is closed at this time.

%d bloggers like this: