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.

July 21st, 2016: SP-500 EOD Update

Posted by pugsma on July 21, 2016

2:40 pm EST:   Wave minor 3 of major [3]-P5-C1 likely competed at 2176, where minor 3=0.78*minor 1.  There should then be a 23%/38%  Fibonacci retrace to 2153/2137 for the minor 4 wave before minor 5 of major [3] heads to the 2235 target area.   The first IT (Intermediate-Term) P5-C1 wave target completion area is at 2246, where P5=0.62*P1.  However there is a much higher target at P5=P1 = 2514.  In this more bullish LT (Long-Term) scenario, both minor 3 of major [3] and major [3] itself would sub-divide and extended much higher.

Just remember the classic Technical Analysis Intermediate-term (IT) measured move break out above 2121, is 2121 + (2121-1992) = 2250, which is right at the first major [5]-P1-C5 target of 2242 and the Long-term (LT) measured move break out above 2135, is 2135 + (2135-1810) = 2460, which is right below P5=P1 = 2514 target.

Have a nice weekend !

SP-500 15-min chart (EOD):

PUG SP-500 15-min EOD 7-21-16

SP-500 60-min chart (EOD):

PUG SP-500 60-min EOD 7-21-16

SP-500 4-hr chart (EOD):

PUG SP-500 4-hr EOD 7-21-16

SP-500 daily chart (EOD):

PUG SP-500 Daily EOD 7-21-16

SP-500 weekly chart (EOD):

PUG SP-500 weekly EOD 7-21-16

Sorry, the comment form is closed at this time.

%d bloggers like this: