PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

July 12th, 2016: SP-500 EOD Update

Posted by pugsma on July 12, 2016

3:50 pm EST:  The SP-500 continued to make new all-time highs today hitting 2155.

The primary (green) wave count is that major [2]-P5-C1 bottomed at 1992 and that major [3]-P5-C1 up to new all-time highs is underway.  Minor 1 of major [3] completed at 2109 and minor 2 retraced to 2074.  The minor 3 of major [3] wave up is underway.  Within minor 3, wave (1) reached 2109, wave (2) dropped to 2089 and now wave (3) of minor 3 is underway headed for 2159, where (3)=2.0(1) or 2181, where (3)=2.62(1).  The initial major [3] target is at 2185, where [3]=0.62[1], however there are much higher targets are [3]=[1] = 2303 and [3]=1.62[1] = 2495.   The initial P5-C1 target is 2246, where P5=0.62*P1, however there is a much higher target at 2514, where P5=P1.   The primary wave count remains valid above the 1992 major [2]-P5 low.

SP-500 15-min (EOD):

PUG SP-500 15-min EOD 7-12-16

SP-500 60-min (EOD):

PUG SP-500 60-min EOD 7-12-16

SP-500 4-hr (EOD):

PUG SP-500 4-hr EOD 7-12-16

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