PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

March 17th, 2016: SP-500 EOD Update

Posted by pugsma on March 17, 2016

5:00 pm EST:  Today the VIX Buy, SPX Sell signal step 1 was triggered at the close (see SPX vs NYMO vs VIX chart below).

http://stockcharts.com/h-sc/ui?s=%24NYAD&p=D&yr=0&mn=6&dy=0&id=p32152966307&a=269536931&r=1450045167343&cmd=print

Today the major [2]-PC-C2 wave filled the 2038 to 2043 gap (primary red count) at 2046 and still could extend to the 2079 to 2084 area (alternate blue count).    Potential targets for major [2] are the 78% retrace at 2049, the 88% retrace at 2079 and the double bottom target at 2084.   The SP-500 price still needs to break below 1970 and then 1963 to confirm the major [2] top.f

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 3-17-16

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 3-17-16

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 3-17-16

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 3-17-16

Sorry, the comment form is closed at this time.

 
%d bloggers like this: