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.

May 10th, 2016: SP-500 EOD Update

Posted by pugsma on May 10, 2016

6:05 pm EST:   The primary (red) count is that wave (1) of minor 1 of major [3]-PC-C2 completed at 2039 and that wave minute (2) is underway that should retrace 62%/78% to 2084/2095 forming the right shoulder of a head and shoulders top that measures to 2034 – (2111-2034) = 1957.   The wave (3) target is at 1967, where (3)=1.62(1) and the minor 1 target 1956 pivot.   The primary (red) count remains valid below 2111.

The alternate (blue) that the minor 2 of major [C]-PB-C2 low is in place at 2039 and the minor 3 wave up is headed for 2162, where minor 3 = 1.62*minor 1.  Within minor 3, wave (1) is underway headed for 2111: wave i-(1) completed at 2064, wave ii-(1) at 2054 and now wave -(1) is headed for 2094, where iii=1.62*i.   Ultimately PB-C2 should reach the [C]=0.62[A] =2198 to PB=1.23*PA = 2210 target area.  The alternate (blue) count remains valid above 2034.

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 5-10-16

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 5-10-16

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 5-10-16

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 5-10-16

Sorry, the comment form is closed at this time.

%d bloggers like this: