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 13th, 2017: SP-500 Chart Update

Posted by pugsma on April 13, 2018

2:05 pm EST:  First attempted break-out above IHS neckline of 2672 failed this morning.   SPX price is at an interesting inflection point here for both wave counts here at 2674, the year 2017 SP-500 closing level.

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 later minor D target of 2777, lines up with a potential IHS with head at 2554, neckline at 2762 and target of 2790.

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, minute wave (1) completed at 2554 and the minute (2) wave looks to be playing out a zig-zag to the typical 50%/62% Fibonacci retrace of 2678/2708.  The move up from 2586 looks like a bearish rising wedge for this minute (2) of minor C.  A break below 2586 and then 2554, will confirm the alternate (blue) count.

House Keeping:  On Thursday April 19th, the wife and I leave for a trip to Germany.  We will be traveling through Saturday, April 28th.  Blog posts during that time will be limited.

Have a great weekend !!!

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=2fe56912-3d88-4eb9-bc09-4cf333e50320

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

SP-500 weekly 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: