PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

February 25th, 2016: SP-500 EOD Update

Posted by pugsma on February 25, 2016

1:10 pm EST:   The primary (red) 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] targets are the 62%/78% Fibonacci retrace at 2000/2049.  This major [2] wave will need to flip the weekly AAII Sentiment to more bullish than bearish before the major [3] wave down can begin.  The minor A of major [2] wave completed at 1947.  The minor B wave likely completed at 1891, which was near the 38% retrace of 1895.   The minor C of major [2] wave is underway and should target 2028, where C=A.  There is however a double bottom (1810) maximum target at 2084 on break above 1947.   Once the major [2] wave completes, the strongest wave major [3] of PC will be underway headed below 1810 towards the 1600 level.  Ultimately PC-C2 should target the 1500-1600 area some time in late summer to early fall 2016, as shown on the weekly and monthly charts below.   The primary (red) count remains valid for major [2] below the PB-C2 high of 2116.

SP-500 15-min chart:

PUG SP-500 15-min MD 2-25-16

SP-500 60-min chart:

PUG SP-500 60-min MD 2-25-16

SP-500 4-hr chart:

PUG SP-500 4-hr MD 2-25-16

SP-500 daily chart:

PUG SP-500 daily MD 2-25-16

SP-500 weekly chart:

PUG SP-500 weekly MD 2-25-16

SP-500 monthly chart:

PUG SP-500 monthly MD 2-25-16

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