PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

July 14th, 2016: SP-500 EOD Update

Posted by pugsma on July 14, 2016

1:00 pm EST:  The SP-500 price hit 2169 today and continues to march higher per the primary wave count shown on the 15-min chart.

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 2181, where (3)=2.62(1).  The initial major [3] target is at 2235, where [3]=0.78[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.

Have a wonderful weekend !!!

SP-500 15-min chart:

PUG SP-500 15-min 7-14-16

SP-500 60-min chart:

PUG SP-500 60-min 7-14-16

SP-500 4-hr chart:

PUG SP-500 4-hr 7-14-16

SP-500 daily chart:

PUG SP-500 Daily 7-14-16

SP-500 weekly chart:

PUG SP-500 Weekly 7-14-16

SP-500 monthly chart:

PUG SP-500 Monthly 7-14-16

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