PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

February 22nd, 2016: SP-500 MD/EOD Update

Posted by pugsma on February 22, 2016

1:00 pm EST:  The primary (red) count is that major [2] of PC-C2 is playing out as a flat wave that will re-test the 1947 level and possibility the 50%/62% Fibonacci retrace to 1964/2000.  Within major [2], wave minor C=A at 1945.   Within minor C, assuming minute (4) ended at the 38% Fib retrace of 1902, the minute (5)=(1) target is 1951.   The count remains valid for major [2] below the PB high of 2116.

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

PUG SP-500 15-min MD 2-22-16

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

PUG SP-500 60-min MD 2-22-16

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

PUG SP-500 4-hr MD 2-22-16

SP-500 daily chart (mid-day):

PUG SP-500 daily MD 2-22-16

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