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 24th, 2017: SP-500 Chart Update

Posted by pugsma on April 24, 2017

1:35 pm EST:  The SPX 4-hr and daily MACD have gone bull cross.  The $NYSE A-D line has made a third new all-time high since the SPX 2401 high early March high, showing tremendous underlying market breadth.  The A-D new highs is 100% accurate in predicting the SPX 2401 level will be exceeded.

The primary count is that the major [4]-P5-C1 triangle completed at the 2345 target shown on the charts last week, with an orthodox low at 2322.   The major [5]-P5 wave up to the P5=P1 target of 2513 is underway.  The minor 1 wave of major [5] should reach the 2390/2401 resistance area.  There should then be a 50% Fibonacci minor 2 correction to 2373/2367, before minor 3 heads for the 1.62*minor 1 target of 2464.

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: