PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

January 13th, 2017: SP-500 Chart Update

Posted by pugsma on January 13, 2017

1:45 pm EST:  Primary (green) count is that wave (5) of minor 3 of major [3]-P5-C1 is underway and so far has made a new high at 2282 above the wave (3) high of 2278.  The wave (5) target is at the area of 2299 to 2314, where (5)=0.50(1) to 0.62(1).  Note the maximum for wave (5) is 2324, so that wave (3) is  not the shortest wave.  Wave i-(5) hit 2282 as a leading diagonal and wave ii-(5) retraced 62% to 2254.   Wave iii-(5) is under and is targeting 2302, where iii=i.  Wave iv-(5) should retrace 23% to 2291.  The wave v-(5) should reach 2313 to complete (5) or minor 3.   The primary (green) count as labeled remains valid above the wave ii-(5) los 2254.

Have a great weekend !!!

SP-500 15-min chart:

pug-spx-15-min-1-13-17

SP-500 60-min chart:

pug-spx-60-min-1-13-17

SP-500 4-hr chart:

pug-spx-4-hr-1-13-17

SP-500 daily chart:

pug-spx-daily-1-13-17

SP-500 weekly chart:

pug-spx-weekly-1-13-17

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