PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

October 13th, 2016: SP-500 Chart Update

Posted by pugsma on October 13, 2016

10:30 am EST:  Primary (green) count is that minor 2 of major [3]-P5-C1 is on target to retrace to the 2105 to 2093 (50% Fib) area.  The wave (y)=(w) target is at 2104.   There is also an alternate (blue) version where minor 2 would retrace deeper to the 62%/78% Fib of 2069/2036.  Both primary count versions remain valid above 1992.  The primary wave count is ultimately headed for P5=P1=2514

The alternate (red) count is that P5-C1 topped at 2194 and now the Cycle 2 (C2) wave down towards 1575 is underway.  However, it will take a break below 1992 to confirm.

SP-500 15-min chart:

pug-sp-500-15-min-md-10-13-16

SP-500 60-min chart:

pug-sp-500-60-min-md-10-13-16

SP-500 4-hr chart:

pug-sp-500-4-hr-md-10-13-16

SP-500 daily chart:

pug-sp-500-daily-md-10-13-16

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