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.

September 5th, 2018: SP-500 Chart Update

Posted by pugsma on September 5, 2018

6:10 pm EST:  The primary wave count is wave minute (4) of minor 5 of major [5]-P5-C1 has been playing out since the 2917 all-time new high.   Assuming wave (4) completed at 2877 today, the wave (5)=(1) target is a 2925 to complete minor 5 of major [5]-P5-C1.  Note: The long standing major [5]=[1] target is at 2917.

The alternate (blue) much more bullish wave count is that minor 3 of major [5]-P5-C1 is underway since the minor 2 low at 2692.  The minor 3 = 1.62*minor 1 target is at 3010.  Ultimately the major [5] wave to complete P5-C1 should reach at least to the major [4] triangle target at 3041.

Note:  A break below 2802 and 2791, would signal that the P5-C1 top is likely in place.

SP-500 15-min chart real-time link:   http://www.freestockcharts.com?emailChartID=2e28b053-166d-483d-8ee9-c495f3557f21

SP-500 15-min chart

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

Sorry, the comment form is closed at this time.