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.

January 11th, 2016: SP-500 EOD Update

Posted by pugsma on January 11, 2016

4:45 pm EST:  The SP-500 has entered into the bottoming zone for both wave count in the 1905 pivot to 1884 pivot area.    The SPX vs NYMO vs VIX Bollinger Band chart has triggered a step 2 SPX Buy signal for the VIX.  The NYMO is also setting up a potential large +Div with the mid-December SPX 1993 low.

http://stockcharts.com/h-sc/ui?s=%24NYAD&p=D&yr=0&mn=6&dy=0&id=p32152966307&a=269536931&r=1450045167343&cmd=print

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 may have completed today at 1901, where minor 3 = 2.0*minor 1.    There should be minor 4 consolidation to the 23%/38% retrace of 1948/1978 and then a final minor 5 of major [1] low above the 1884 pivot.  The primary red count remains valid below the Primary B (PB) high of 2116.

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] is completing as a minor W-X-Y Double Zig-Zag that has retraced 88% to 1901.   The alternate blue count remains valid as long the major [2] wave remains above the Primary 4 (P4) of 1872.  Finally there is also a large P4-C1 triangle variant of the alternate blue count that would be in a major [C] wave down to the 1905 pivot, then a major [D] wave up to the 2079 pivot and a final major [E] wave down to the 1956/1926 pivot to complete P4-C1.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 1-11-16

 

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 1-11-16

 

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 1-11-16

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 1-11-16

SP-500 weekly chart (EOD):

PUG SP-500 weekly EOD 1-11-16

Sorry, the comment form is closed at this time.

 
%d bloggers like this: