PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

April 4th, 2016: SP-500 EOD Update

Posted by pugsma on April 4, 2016

4:50 pm EST:   With today’s SPX price drop below 2065. there is a potential top at 2075 for wave v-(5) of minor C of major [2]-P2-C2.  Need a SPX price break below 2043 and then 2022 to confirm.

SPX price is continuing to look for a major [2]-PC-C2 termination point between the 2075 and 2094 area.  There is a lot of confluence in this 2079 to 2094 along with a key daily chart down sloping trend-line.  The 88% Fibonacci retrace target is at 2079.   The minor C=1.38*A target is 2080.  Within the minor C wave, the wave v=i target is 2089 and the wave (5)=(1) target is 2094.   The primary (red) count remains valid for major [2]-PC-C2 wave termination below the PB-C2 high at 2116.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 4-4-16

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 4-4-16

SP-500 4-hr chart (EOD):

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

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 4-4-16

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