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.

February 8th, 2016: SP-500 Mid-day/EOD Update

Posted by pugsma on February 8, 2016

11:25 am EST:   It’s all a matter now of whether the SP-500 price takes the elevator (red count) or stairs (blue count) to the Cycle 2 (C2) price target of 1500-1600 that I’ve been calling for since the May 2015 Cycle 1 (C1) top.

The primary (red) count is that major [2]-PC-C2 ended near the 50% Fib retrace of 1947 as a single Zig-Zag.   The major [3] wave is underway with an initial target of 1643, where [3]=[1].  Within major [1], wave minor 1 is target 1797 before a bounce of 50% retrace to 1872 for minor 2.    Once minor 2 completes, the strongest wave down, minor 3 of major [3] will begin.

The alternate (blue) count is that major [1]-PC-C2 is targeting the 1797 area before a major [2] 50% Fib retrace to 1956.

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

PUG SP-500 15-min MD 2-8-16

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

PUG SP-500 60-min MD 2-8-16

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

PUG SP-500 4-hr MD 2-8-16

SP-500 daily chart (mid-day):

PUG SP-500 Daily MD 2-8-16

SP-500 Weekly:

PUG SP-500 Weekly MD 2-8-16

SP-500 Monthly:

PUG SP-500 Monthly MD 2-8-16

Sorry, the comment form is closed at this time.

%d bloggers like this: