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 24th, 2016: SP-500 Mid-day/EOD Update

Posted by pugsma on February 24, 2016

12:10 pm EST:  The primary (red) count is that major [2] of PC-C2 played out as a flat wave that re-tested the 1947 level and the 50% Fibonacci retrace to 1964.  The major [3]-PC wave is now underway from the major [2] high of 1947.  The first minute (1) of minor 1 of major [3] completed at 1891.  The minute (2) wave should retrace 50% to 1919, before the minute (3) wave drops to the 1828 level were (3)=1.62(1).  I’d expect the minor 1 wave to reach the 1814/1775 pivot area.  The major [3]=[1] target is 1643.  The primary (red) count remains valid below 1947.

The alternate (blue) count is that major [2]-PC-C2 wave is playing out a Zig-Zag off the major [1] low of 1810.   The typical major [2] retrace targets are the 62%/78% Fibonacci retracements at 2000/2049.   The minor A of major [2] wave completed at 1947.  The minor B wave is now underway that should retrace 38%/50% to 1895/1879 before minor C of major [2] completes at or above 2000.   Minor B looks to have completed 1891.  Minor C=A = 2028.  The alternate (blue) count remains valid for minor B wave above 1810.

SP-500 15-min chart (EOD):

PUG SP-500 15-min MD 2-24-16

SP-500 60-min chart (EOD):

PUG SP-500 60-min MD 2-24-16

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr MD 2-24-16

SP-500 daily chart (EOD):

PUG SP-500 daily MD 2-24-16

Sorry, the comment form is closed at this time.

 
%d bloggers like this: