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.

January 6th, 2017: SP-500 Chart Update

Posted by pugsma on January 6, 2017

1:40 pm EST:   Today the DJIA hit 19,999.63 (20K) thus far and the SP-500 price broke above the early December high of 2278, all-but completely eliminating the alternate (blue) wave count for the P5-C1 ending diagonal which has a 2286 maximum.

Primary (green) count is that wave (4) of minor 3 of  major [3]-P5-C1 is played out as a Zig-Zag with c=1.38a target at 2234.   Wave (5) of minor 3 is underway and has made a new high above 2278.  The wave (5) target is at the area of 2309 to 2324, where (5)=0.50(1) to 0.62(1).   Wave i-(5) hit 2264 and wave ii-(5) retraced 62% to 2245.   Wave iii-(5) is underway and headed for the 1.62*i target at 2294.   The primary (green) count as labeled remains valid above the wave (1) high 2214.

Have a super weekend !!!

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: