PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

January 13th, 2015: SP-500 EOD Update

Posted by pugsma on January 13, 2016

4:55 pm EST:  Today the SP-500 price finally reached my long standing 1884 pivot area target for the completion of the primary red count wave major [1]-PC-C2.   The key indicators (VIX, NYMO and SPX) have all reached a point that a significant count-trend rally is now likely.


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 pivot target area.   Within PC, the major [1] wave is nearing completion at the 1884/1849 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 completed at 1901, where minor 3 = 2.0*minor 1.    The minor 4  reached the 23% retrace of 1948 today, before dropping sharply in the final minor 5 of major [1] low to the 1884/1849 pivot area.  There is a minor 5=1 target at 1853.   The primary red count remains valid below the Primary B (PB) high of 2116.

The alternate blue count is a large P4-C1 triangle with major [A] complete at 1967, major [B] complete at 2116 and now the major [C] wave down is complete or near complete at the 1884 pivot.   Next there should be a major [D] wave up to the 2079 pivot and then a final major [E] wave down to the 1956/1926 pivot to complete P4-C1.  Once P4 completes later this spring to early summer, there should be impulse P5 wave to the final Cycle 1 (C1) top, with targets at P5=0.50*P1 = 2224 and P5=0.62*P1 == 2308.  The alternate blue count remains valid above the major [A] low of 1867.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 1-13-16

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 1-13-16

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 1-13-16

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 1-13-16

SP-500 weekly chart (EOD):

PUG SP-500 weekly EOD 1-13-16

Sorry, the comment form is closed at this time.

%d bloggers like this: