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December 28th, 2018: SP-500 Chart Update

Posted by pugsma on December 28, 2018

4:20 pm EST:   The primary (red) count is that Primary W (PW) of Cycle 2 (C2) bottom at 2347 on the Dec 24th, 2018.   The Primary X (PX) wave up of Cycle 2 (C2)  is now underway that should reach the a common X-wave Fibonacci retracement target of 50%/62%/78% (2644/2715/2810).   The major [A] wave of PX has seen minor 1 reached 2468 and minor 2 dropped to 2398 (57% retracement).  The current move up from 2398 is a minor 3 wave, that should reach the minor 3 = 1.62*minor 1 target at 2594.  Minor 4 should retrace 23% to 2549, before minor 5 completes major [A] at 2624, where minor 5 = 0.62*minor 1.

House Keeping:  As the  9th year of the PUG Stock Market Analysis (PUG SMA) Premium Service comes to a close, I want to thank all the loyal subscribers, many who have been here since the beginning in October 2009.  If you wish to remain with the service for 2019, then please check your e-mails for an offer.  I sent out the 2019 offer via e-mail in early December and I’ll send it out again this later afternoon.

Have a Great Weekend !!!

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

SP-500 weekly chart:

SP500 Technical Analysis

10 Responses to “December 28th, 2018: SP-500 Chart Update”

  1. droc14 said

    Potential 1 day + divergence on NYMO wrt SPX. SPX down with NYMO closing higher. Could point to the red count in the 15 min chart above. Have a good weekend.

  2. Rodney Mruk said

    Can PX retrace all of PW? For that matter, Can PX exceed the ATH going above the origin of PW? Thanks in advance for your response.

  3. Rodney Mruk said

    If today’s rally holds and closes near or above the current point (up 13), the $NYMO will close above zero and out of the danger zone of -40 to 0. If I recall correctly, this is a confirmation signal that at least an interim bottom is in and a confirmation of the upcoming rally to PX of C2.

    • pugsma said

      When the $NYMO close below -40 (we just witnessed several consecutive closes below -40), it’s important for the NYMO to close above the -20 to zero “crash zone” in order to show the internal market breadth of a sustainable rally. And It’s much preferable to see a close above +20.

  4. MS53 said

    Marking down Brees and Co for a Super Bowl trophy.

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