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.

April 10th, 2018: SP-500 Technical Analysis

Posted by pugsma on April 10, 2018

3:40 pm EST:  The SP-500 price made a nice stand at the 2597 pivot support and has moved back to the 2658 pivot resistance.   Above  the 2658 pivot, there is a cluster of resistance the Bollinger band mid-point (2664), the 34-day EMA (2674) and the 50-day SMA (2700).  Note that on the 15-min chart there is a bullish Inverse Head and Shoulders (IHS) pattern with head at 2554, neckline at 2672 and target of 2790.

The primary (green) count remains the major [4]-P5-C1 contracting that is currently in a minor D wave headed for the upper yellow triangle boundary between 2704, where minute (c)=(a) to 2777, where (c)=1.62(a).

The alternate (blue) is that major [4] is playing out as a simple zig-zag towards the C=A target of 2463.   Within the minor C wave down, the minute (2) wave looks be playing out an expanded for toward the 50% Fibonacci retrace of 2672.  Wave (3) of minor C looks to be underway toward a (3)=(1) target at 2456.  A break below 2586 and then 2554, will confirm the alternate (blue) count.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=daa31d6d-0b8f-4d5e-b6c3-c842917f36b9

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:

WordPress.com Logo

You are commenting using your WordPress.com 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: