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.

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:


SP-500 60-min chart:


SP-500 4-hr chart:


SP-500 daily chart:


SP-500 weekly chart:



Sorry, the comment form is closed at this time.

%d bloggers like this: