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 14th, 2016: SP-500 EOD Update

Posted by pugsma on January 14, 2016

5:30 pm EST:   Today’s new low at 1879 may or may not be the final low per the primary (red) wave count for major [1]-PC-C2.  However it must be the final low for the alternate (blue) count, as the limit is 1867 for the P4-C1 triangle.   The minimum criteria for an IT bottom (lasting a few weeks to month) was set today.  And even if there is a new low below 1879, I would not expect it to exceed the 1849 pivot area.

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.   The low of 1879 today may have set the major [1] low or there could one more drop to the 1849 pivot area.  Once major [1] completes there should be a significant major [2] retrace of 50%/62% to the 1991 to 2019 pivot area before the major [3] wave down begins a massive sell-off toward the PC-C2 target of 1575.  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 1879.   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 1-14-16

SP-500 60-min chart (EOD):

PUG SP-500 4-hr EOD 1-14-16

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 1-14-16

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 1-14-16

SP-500 weekly chart (EOD):

PUG SP-500 weekly EOD 1-14-16

Sorry, the comment form is closed at this time.

%d bloggers like this: