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.

August 11th, 2016: SP-500 EOD Update

Posted by pugsma on August 11, 2016

5:10 pm EST: The primary (green) wave count is that wave (2) of minor 5 of major [3]-P5-C1 is complete at 2172.  Wave (3) of minor 5 should be underway and move above 2200. The (3)=1.38*(1) target is 2227.  Looking for major [3] to terminate near the [3]=0.78*[1]=2235 target.   The P5=0.62*P1 target is at 2246.  The primary green count as labeled remains valid above the 2148.

The alternate (blue) wave count is that wave (2) of minor 3 of major [3]-P5-C1 is complete at 2172.   Wave (3) of minor 3 should be underway and move above 2300.  The minor 3 = 1.62*minor 1 target is 2388.   The major [3] target is at 1.62*[1] = 2496.  The P5=P1 target is 2514 to complete the Cycle 1 wave.  The alternate blue count as labeled remains valid above 2148.

The alternate (red) wave count is that major [5]-P5-C1 is topping in the 2188 to 2214 area and the LT (long-term) Cycle (C2) wave down towards a 50% Fibonacci retrace of C1 at 1428 is about to get underway.

Have a super weekend !!!

SP-500 15-min chart:

PUG SP-500 15-min EOD 8-11-16

SP-500 60-min chart:

PUG SP-500 60-min EOD 8-11-16

SP-500 4-hr chart:

PUG SP-500 4-hr EOD 8-11-16

SP-500 daily chart:

PUG SP-500 daily EOD 8-11-16

SP-500 weekly chart:

PUG SP-500 weekly EOD 8-11-16

Sorry, the comment form is closed at this time.

%d bloggers like this: