PUG Stock Market Analysis, LLC | Technical Analysis Blog

PUG Stock Market Analysis is here to help with SP500, QQQ, IWM, Gold technical analysis, stock analysis and more.

July 19th, 2018: SP-500 Chart Update

Posted by pugsma on July 19, 2018

5:30 pm EST:   The primary count has been split into to subtly different wave formations (green and blue).  Both of these counts point much higher to a P5-C1 top at 2917 to 3041 late in year 2018.   The primary (green) count is in a wave (3) of minor 3 of major [5]-P5-C1 move higher and will move toward the wave (3)=1.23(1) = 2900 target with little to no pull-backs (lock-out rally).   The alternate (blue) count version has wave (1) of minor 3 ending here near the 2807 pivot, which should be followed by a wave (2) pull back to the 50% Fib at 2757 before the wave (3) of minor 3 up move begins in unrest.

The old alternate (red) count with a P5-C1 top at 2871 has been re-introduced.  The 2817 high is slightly above a 78% Fibonacci retracement (2798) of the drop from 2872 to 2533.   This looks like a possible major [2]-PA-C2 flat.  The next wave down would be a devastating (to the bulls) major [3]-PA-C2 wave toward [3]=1.62[1] target at 2247.  A break below the recent low of 2692 would make this alternate (red) count much more likely.

Enjoy your weekend !

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=3d8547a9-17de-40e8-aaa1-41752630d6e8

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

 
%d bloggers like this: