PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

February 29th, 2016: SP-500 EOD Update

Posted by pugsma on February 29, 2016

2:50 pm EST:   The SP-500 level of 1963 hit was the minimum 50% Fibonacci retrace target for major [2]-PC-C2.   There are some other Fibonacci target confluence around this same area as minor C=0.5*A=1960 and C=0.62*A=1976.   Above this area, then look major [2] to target 2000 to 2049, where C=A=2008 and C=1.23*C=2060.  Note: that it will take break below 1891 to confirm the major [2] top.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 2-29-16

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 2-29-16

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 2-29-16

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 2-29-16

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