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 10th, 2016: SP-500 Mid-day/EOD Update

Posted by pugsma on February 10, 2016

11:40 am EST:   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 ended at 1828 and the bounce for minor 2 is underway to the 50%/62% Fib retrace to 1888/1902.    Once minor 2 completes, the strongest wave down, minor 3 of major [3] will begin.  The target for minor 3 is the 1.62*minor 1 extension near the 1700, as shown the daily chart.  The primary (red) count remains valid for the minor 2 wave below the major [2] high of 1947.

The alternate (blue) count is that major [2]-PC-C2 is still ongoing and is targeting the 50% Fib retrace of 1964 to complete at a 3-3-5 flat wave.   The move up from the major [1] low of 1812 to 1947 was only minor A of major [2].  The more recent move down to 1828 wave minor B of major [2].  Now the minor C wave of major [2] up is underway with a target of C=A = 1963.  The alternate (blue) count remains valid above 1828.

SP-500 15-min chart (mid-day):

PUG SP-500 15-min Chart 2-10-16

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

PUG SP-500 60-min Chart 2-10-16

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

PUG SP-500 4-hr Chart 2-10-16

SP-500 daily chart (mid-day):

PUG SP-500 Daily Chart 2-10-16

Sorry, the comment form is closed at this time.

 
%d bloggers like this: