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.

January 6th, 2016: SP-500 Mid-day/EOD Update

Posted by pugsma on January 6, 2016

12:35 pm EST: 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) retraced 88% to 2082.   Wave (3) of minor 3 is underway and should drop below 1993, to a target of (3)=1.38(1) at 1943.  Wave i-(3) reached 2046 and now wave ii-(3) retraced 50% to 2063.  Wave iii-(3) ended at 1990, where iii=2.00*i and the move up to 2022 was a wave iv-(3).  Wave v-(3) has broken below 1900 and is likely headed for 1943.  The red count remains valid below the Primary B (PB) high of 2116.

The 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] is completing as a minor W-X-Y Double Zig-Zag that should retrace 50%/62% to 1994/1965.  To drop to 1986 could have ended wave v of (c) of minor Y of major [2], where wave v=i at 1986 and the 50% retrace for major [2] at 1994.  However there is also a lower target, where v=1.62*i at 1964, which is the 62% retrace for major [2].    The blue count remains valid as long the major [2] wave remains above the Primary 4 (P4) of 1872.

SP-500 15-min chart (mid-day):

PUG SP-500 15-min EOD 1-6-16

SP-500 60-min chart (mid-day):

PUG SP-500 60-min EOD 1-6-16

SP-500 4-hr chart (mid-day):

PUG SP-500 4-hr EOD 1-6-16

SP-500 daily chart (mid-day):

PUG SP-500 daily EOD 1-6-16

SP-500 weekly chart (mid-day):

PUG SP-500 weekly EOD 1-6-16

Sorry, the comment form is closed at this time.

 
%d bloggers like this: