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.

March 28th, 2017: SP-500 Chart Update

Posted by pugsma on March 28, 2017

12:50 pm EST:  The primary (green/white) count has the major [4]-P5-C1 low at the 2322, which is just above the typical 23% Fibonacci retrace of 2306.   Major [5]-P5 should now target 2514, where [5]=0.62[1].  Wave minor 1 of major [5] should target the 2401 high.   The primary count remains valid above 2322.

The alternate (blue) count is that major [4]-P5-C1 will correct much deeper to the 38% Fibonacci pf 2246.  For this count major [4] will play out as a complex double corrective (i.e. double Zig-Zag).  The first 3-wave Zig-Zag just completed at 2322 and now a 3-wave X-wave is underway to a 50% retrace at 2362.  Once the X-wave ends, the down trend will resume toward the 2278 pivot.  The alternate (blue) count remains valid below 2401.

SP-500 15-min chart:

SP-500 60min chart:

SP-500 4-hr chart:

Sorry, the comment form is closed at this time.

 
%d bloggers like this: