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.

May 11th, 2017: SP-500 Chart Update

Posted by pugsma on May 11, 2017

12:50 pm EST:  The primary count is that minor 2 of major [5]-P5-c1 is either complete today at the 38% Fib retrace at 2382 or will retrace 50%/62% to 2375/2267 into next week (alternate blue variant).   The next move after minor 2 completes is a minor 3 wave up towards the triangle target of 2480.  The primary count is valid above the major [4] triangle low of 2345.

The alternate (red) count is that major [4]-P5-C1 is playing out as a long-winded flat that will retest the 23% Fib retrace of major [3] at 2306 and the 2278 pivot into June.   Minor B of major [4] completed at 2404 and now minor C is underway with a 1.23*A target at 2307 to 1.62*A = 2276 .  The alternate red count is valid below 2404.

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: