Technical Analysis Blog | PUG Stock Market Analysis, LLC

PUG Stock Market Analysis is here to help with SP500 technical analysis, stock analysis and more. Read our technical analysis blog to learn more.

January 8th, 2018: SP-500 Chart Update

Posted by pugsma on January 8, 2018

12:25 pm EST:   I have a couple wave count options on how this major [3]-P5-C1 wave will end.   The primary (green) count is precisely has I showed last Friday, January 5th.   Wave minute (3) of minor 5 of major [3] is ending here near 2751 to 2761.   Then there should be a minute (4) retrace to the 23% Fib at 2698 before one final minute (5) wave push up to the (5)=(1) target at 2789.  Also the major [3]=2.62[1] is at 2807.

The alternate (blue) count view for the major [3]-P5-C1 top is that price is already in the minute (5) of minor 5 wave off the minor (4) low at 2674 at the end of the year.   The minute (5)=(1) target is at 2765.   There is also a minor 5=1.62*minor 1 target at 2744 that has already be satisfied.  The alternate (blue) count obviously is more near term bearish.  A break below the year end low of 2674 should confirm this alternate (blue) wave count.

For both the primary and alternate wave counts, there will be a significant major [4] wave drop in the April-June time frame.   The 23%/38% Fibs that the SP-500 price back down towards at least the 2597 pivot.

SP-500 15-min chart real-time link:

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

SP-500 daily chart:

SP500 Technical Analysis

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: