PUG Stock Market Analysis, LLC | Technical Analysis Blog

PUG Stock Market Analysis is here to help with SP500, QQQ, IWM, Gold technical analysis, stock analysis and more.

June 9th, 2016: SP-500 EOD Update

Posted by pugsma on June 9, 2016

4:250pm EST:  The primary (green) wave count is that wave (1) of minor 3 of major [5]-P5-C1 peaked at 2119 and wave minute (2) retraced 38% to 2108.   Wave minute (3) of minor 5 of major [5] should be underway and will make a new ATH above 2135.  The major [5]=[1] target is at 2161 and the P5=0.5*P1 target is at 2162, which is the minimum for completing this P5-C1 wave up.  The primary (green) count remains valid above 2085.

The alternate (blue) wave count is that wave minor 1 of major [5]-P5-C1 completed at 2119.  Wave minor 2 maybe taking the form of a double zig-zag and should retrace 38%/50% to 2084/2073.   Once wave minor 2 completes, wave minor 3 should target 2224, where minor 3 = 1.62*minor 1.  The P5=0.62*P1 target is at 2246.  The alternate (blue) count remains valid above 2026.

Have a wonderful weekend !!!

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 6-9-16

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 6-9-16

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 6-9-16

SP-500 daily chart (EOD):

PUG SP-500 daily EOD 6-9-16

Sorry, the comment form is closed at this time.

%d bloggers like this: