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.

April 10th, 2017: SP-500 Chart Update

Posted by pugsma on April 10, 2017

12:15 pm EST:  The SP-500 price is still trapped between 2322 and 2401.  Breaking this range is key to the next intermediate term price move.

The primary count has a possibility that minor 2 of major [5]-P5-C1 ended at 2250 or might need one more re-test lower to the 62%/78% Fib retrace at 2343/2334.  Ultimately the primary count should hold the 2322 low and make a new high above 2401 toward the P5=P5 target of 2513.

The alternate (blue) count is that major [4]-P5-C1 is not yet complete at 2322. The 2322 low is only minor A of major [4] and the move up to 2378 was minor B.  Now minor C should head towards a target a 2250, where C=1.62*A, which is inline with 38% Fib retrace for major [4] at 2246.

SP-500 15-min chart:

SP-500 60-min chart:

SP-500 4-hr chart:

SP-500 daily chart:

Sorry, the comment form is closed at this time.

%d bloggers like this: