PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

November 9th, 2016: SP-500 Chart Update

Posted by pugsma on November 9, 2016

4:25 pm EST:   As expected today the minute (2) of minor 3 of major [3]-P5-C1 wave retraced to the 38% Fibonacci level of 2125.  From there the always very bullish impulse wave (3) of minor 3 of major [3] wave shot higher to 2170 closing at 2163.   The wave (3) of minor 3 target is at (3)=2.62*(1) = 2290.  The minor 3 target is at 2332, where minor 3 = 1.23*minor 1.   The major [3] = 1.23*[1] target is at 2375 and the P5=P1 target 2513 to complete the Cycle 1 wave.  A very bullish IT-LT outcome indeed.  The SP-500 price must now hold above 2125 and 2085 and move above 2194 for full confirmation.

SP-500 15-min chart:

pug-sp-500-15-min-11-9-16

SP-500 60-min chart:

pug-sp-500-60-min-11-9-16

SP-500 4-hr chart:

pug-sp-500-4-hr-11-9-16

SP-500 daily chart:

pug-sp-500-daily-11-9-16

SP-500 weekly chart:

pug-sp-500-weekly-11-9-16

 

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