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 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

Sorry, the comment form is closed at this time.

%d bloggers like this: